Cairo – Mubasher: Speed Medical reported a 25.7% year-on-year increase in its consolidated profits during the first quarter of 2019.
The Egyptian company’s net profits amounted to EGP 5.81 million in the three-month period ended 31 March, compared to EGP 4.62 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Meanwhile, revenues rose to EGP 20.18 million in the January-to-March period from EGP 13.12 million in the corresponding period a year earlier.
As for standalone business, Speed Medical’s profits grew to EGP 5.81 million in Q1-19, compared to EGP 4.62 million in Q1-18.
Previously, the EGX approved the listing of Speed Medical’s shares with an issued capital of EGP 52 million distributed over 52 million shares at a nominal value of EGP 1 per share.
