Speed Medical’s consolidated losses increase 5% YoY in Q1 2024

Updated 7/31/2024 1:36:00 AM
Speed Medical’s consolidated losses increase 5% YoY in Q1 2024

Arab Finance: Speed Medical Company (SPMD) reported a 5.2% year-on-year (YoY) increase in its consolidated net losses attributable to the parent company in the first quarter (Q1) of 2024 to EGP 25.452 million, compared to EGP 24.183 million, the company stated.

Operating revenues declined to EGP 11.287 million in Q1 2024 from EGP 15.843 million in Q1 2023.

The firm’s standalone net losses after tax rose to EGP 23.28 million in the three months to March 31th, versus EGP 22.109 million.

Established in December 2015 and listed on the EGX in March 2019, Speed Medical is a Cairo-based company that operates in the healthcare sector.

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