Cairo – Mubasher: Speed Medical Company announced that one of its subsidiaries responsible for transferring Egyptian workers to Libya has signed an agreement with MEDAF Investments Holding.

Under the contract, Speed Labs will conduct pre-travel PCR tests for COVID-19 for a minimum of 600,000 travellers, with expected revenues of EGP 336 million, Speed Medical said in a bourse disclosure on Sunday.

In July, the company signed a contract to conduct pre-employment examinations for about 1 million Egyptians expected to travel to rebuild Libya until the end of 2022 with expected revenues of EGP 965 million. 

A total of 120 branches of Speed Labs have been listed on the electronic portal for travellers who can register on the portal starting from October.  

During the first half (H1) of 2021, Speed Medical Company registered consolidated net profits of EGP 108.07 million, up from EGP 21.24 million in H1-20.