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Speed Medical's profit jumps 363% in 2020

Speed Medical's profit jumps 363% in 2020
The company’s revenues rose to EGP 173.88 million last year
Speed Medical
SPMD
-1.60% 2.46 -0.04

Cairo – Mubasher: The consolidated net profits of Speed Medical Company leapt by 363.4% year-on-year (YoY) to EGP 79.2 million in 2020, compared to EGP 17.09 million, including minority shareholders’ rights.

The company’s revenues rose to EGP 173.88 million last year from EGP 83.89 million in 2019, according to a bouse disclosure on Tuesday.

The standalone net profits increased to EGP 79.2 million in 2020, compared to EGP 17.09 million in the prior year.

During the first nine months of 2020, Speed Medical reported net profits of EGP 49.08 million, up from EGP 16.419 million in the corresponding period a year earlier.