Cairo – Mubasher: The consolidated financial statements of Raya Holding for Financial Investments showed net losses of EGP 53.69 million in the first nine months of 2020, down by 8% year-on-year (YoY) from EGP 58.16 million.

The company’s revenues increased to EGP 7.55 billion in the January-September period from EGP 6.518 billion in the year-ago period, according to a bourse disclosure on Wednesday.

In addition, the company reported standalone net losses of EGP 36.87 million in the first nine months of the year, against net profits of EGP 136.3 million in the corresponding period a year earlier.

During the first half (H1) of 2020, Raya Holding for Financial Investments suffered net losses of EGP 95.529 million, up from EGP 50.944 million in H1-19.