Cairo – Mubasher: Speed Medical Co recorded a 46% year-on-year consolidated profit increase during the first half of 2019 on the back of rising revenues.

The company’s net profits rose to EGP 10.7 million in the six-month period ended 30 June, compared to EGP 7.3 million in the year-ago period, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, revenues hiked to EGP 39.3 million in the January-June period of 2019 from EGP 27.4 million.

As for standalone business, the company’s profit stood at EGP 10.75 million in H1-19, up from EGP 7.35 million in H1-18.

During the second quarter of 2019, Speed Medical Co reported consolidated profits of EGP 4.9 million, compared to EGP 2.7 million in the prior-year period.