Speed Medical suffers consolidated loss for H1
Updated 10/13/2022 11:11:44 AM
Arab Finance: Speed Medical Company (SPMD) has switched to losses in the first half (H1) of 2022, according to the company’s consolidated financial income statement filed to the Egyptian Exchange (EGX) on October 13th.
The company incurred a consolidated net loss attributable to the parent company of EGP 74.035 million in H1 2022, versus a net profit of EGP 88.218 million in the same period last year.
Net operating revenues fell to EGP 85.248 million in the six-month period ended June 30th, 2022, compared to EGP 175.066 million in H1 2021.
It is noteworthy that the company incurred a standalone net loss after tax of EGP 70.58 million in H1 2022, compared to a net profit of EGP 90.61 million in H1 2021.
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.
