Raya Holding’s consolidated profit grows 100% YoY in H1
Updated 8/16/2023 9:11:00 AM
Arab Finance: Raya Holding for Financial Investments (RAYA) has reported a 99.98% year-on-year (YoY) increase in consolidated profits attributable to the holding company during the first half (H1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on August 16th.
The EGX-listed company achieved consolidated profits excluding minority interest of EGP 287.282 million in H1 2023, compared to EGP 143.658 million in the same half in 2022.
The company’s consolidated operating revenue surged to EGP 14.511 billion during the January-June period of 2023 from EGP 9.126 billion during the first six months of 2022.
As for standalone financial results, the company reported EGP 110.746 million in net profit after tax, compared to EGP 77.488 million in the same period last year.
Established in 1999 and listed on EGX in 2005, Raya Holding operates within the software and services sector, focusing on information technology consulting and other services.
It has subsidiaries operating across North America, the British Islands, Northern Africa, Western Africa, and the Middle East.
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