Cairo – Mubasher: Speed Medical Company (SPMD) turned to a consolidated net loss of EGP 74.90 million during the first half (H1) of 2022, versus net earnings of EGP 88.21 million in H1 of last year.
The company’s revenues fell to EGP 85.24 million during the January-June period in 2022, compared to EGP 175.06 million in the same period a year earlier, according to a bourse statement on Thursday.
During this year’s second quarter (Q2), the EGX-listed firm shifted to a net loss of EGP 36.13 million, against a net profit of EGP 59.07 million in Q2-21.
At the same time, revenues shrank to EGP 16.54 million in Q2-22, compared to EGP 109.70 million in Q2-21.
In 2021, Speed Medical’s consolidated net profits surged by 71.4% yearly to EGP 135.76 million, compared to EGP 79.2 million, including minority shareholders' rights.
