Raya Holding’s consolidated profit grows 127.8% YoY in H1
Updated 8/14/2024 9:50:00 AM
Arab Finance: Raya Holding for Financial Investments (RAYA) has reported a 127.8% year-on-year (YoY) increase in consolidated profits attributable to the holding company during the first half (H1) of 2024, according to financial statements filed to the Egyptian Exchange (EGX) on August 14th.
The EGX-listed company achieved consolidated profits excluding minority interest of EGP 654.433 million in H1 2024, compared to EGP 287.282 million in the same half in 2023.
The company’s consolidated operating revenue surged to EGP 20.088 billion during the January-June period of 2024 from EGP 14.511 billion during the first six months of 2023.
As for standalone financial results, the company reported EGP 85.925 million in net losses after tax, versus net profits of EGP 110.746 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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