Cairo – Mubasher: The net profits of Speed Medical Company hiked by 470.7% to EGP 40.92 million in the first quarter (Q1) of 2021, compared to EGP 7.17 million in the year-ago period. 

The revenues surged to EGP 65.36 million in the January-March period from EGP 25.11 million in the same period in 2020, the company said in a bourse disclosure on Tuesday.

In 2020, Speed Medical achieved net profits of EGP 79.2 million, up from EGP 17.09 million in 2019, including minority shareholders’ rights.