Cairo – Mubasher: The consolidated financial statements of Speed Medical Company showed a 34% year-on-year profit growth during 2019.

The company’s net profits increased to EGP 17.09 million during the 12-month period ended 31 December 2019, compared to EGP 12.7 million a year earlier, including minority shareholders’ rights, according to a bourse disclosure on Sunday.

Revenues rose to EGP 83.89 million last year from EGP 63.16 million in 2018.

As for standalone financials, the company reported net profits of EGP 17 million in 2019, compared to EGP 12.7 million in the previous year.

It is noteworthy that during the January-September period of 2019, Speed Medical’s net profits amounted to EGP 16.4 million, up from EGP 10.99 million in the prior-year period, including minority shareholders’ rights.