Cairo – Mubasher: Raya Holding for Financial Investments suffered consolidated net losses of EGP 45.68 million in 2020, down by 46.3% year-on-year (YoY) from EGP 85.1 million a year earlier, including minority shareholders’ rights.

On an annual basis, the losses attributable to the parent company’s shareholders sild to EGP 61.67 million from EGP 141.04 million, while the profits pertaining to minority interests fell to EGP 15.99 million from EGP 55.94 million, according to a bourse disclosure on Sunday.

Revenues rose to EGP 10.75 billion in 2020 from EGP 8.76 billion a year earlier.

As for standalone business, Raya Holding turned to net losses of EGP 115.03 million last year, versus net profits of EGP 59.28 million in 2019.

During the first nine months of 2020, Raya Holding for Financial Investments incurred net losses of EGP 53.69 million, down from EGP 58.16 million in the corresponding period a year earlier.