Egypt's Speed Medical switches to losses in H1 2022

The company recorded a standalone net loss after tax of over $3mln in H1 2022

Staff Writer, Arab Finance

September 29, 2022

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Speed Medical Company (SPMD) turned to losses during the first half (H1) of 2022, according to the standalone financial indicators filed to the Egyptian Exchange (EGX) on September 28th.

The company recorded a standalone net loss after tax of EGP 70.584 million in H1 2022, compared to a net profit of EGP 108.08 million in H1 2021.

Revenue reached EGP 85.249 million in the six-month period ended June 30th, down from EGP 175.066 million in the same period last year.

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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