Raya Holding sees 182.55% YoY hike in consolidated net profits in 9 months
Updated 11/17/2024 10:39:00 AM
Arab Finance: Raya Holding for Financial Investments (RAYA) has reported a 182.55% year-on-year (YoY) increase in consolidated profits attributable to the holding company during the first nine months of 2024, according to financial statements filed to the Egyptian Exchange (EGX) on November 17th.
The EGX-listed company achieved consolidated profits excluding minority interest of EGP 1.110 billion during the January-September period, compared to EGP 392.946 million in the same period in 2023.
The company’s consolidated operating revenue surged to EGP 32.271 billion during the nine-month period from EGP 22.657 billion during the first nine months of 2023.
As for standalone financial results, the company reported EGP 249.250 million in net losses after tax, against net profits of EGP 56.689 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.
Related News
