Egypt: Speed Medical’s net losses shrink by 37% in Q1

Amr Dalsh

Speed Medical is a Cairo-based company that operates in the healthcare sector

Staff Writer, Arab Finance

August 9, 2023

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Speed Medical Company (SPMD) reported a 36.99% year-on-year (YoY) drop in its consolidated net loss after tax in the first quarter (Q1) of 2023, incurring EGP 24.182 million, compared to EGP 38.380 million, as per the company’s financial statements issued on August 9th.

Operating revenues reached EGP 15.843 million from January through March, down from EGP 68.700 million over the same period of last year.

Standalone results showed net losses after tax of EGP 22.109 in Q1 2023, against net profits of EGP 36.857 million in Q1 2022.

Established in December 2015 and listed on the EGX in March 2019, Speed Medical is a Cairo-based company that operates in the healthcare sector.

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