Cairo – Mubasher: Raya Holding for Financial Investment achieved consolidated profits worth EGP 481.86 million during the first nine months of 2021, against losses standing at EGP 53.69 million in the same period last year.

Revenues soared to EGP 12.4 billion during January-September 2021 from EGP 7.55 billion in the corresponding nine months last year, according to the financial results on Tuesday.

During the third quarter (Q3) of 2021, Raya Holding reported higher consolidated profits of EGP 329.96 million, compared to EGP 41.83 million in Q3-20.

Revenues also increased to EGP 4.12 billion July-September 2021 from EGP 2.78 billion in Q3-20.

As for the standalone income statements, the listed firm turned to profits worth EGP 481.06 million in the first nine months of 2021, versus losses of EGP 36.87 million in the same period a year ago.

During Q3-21, the company also turned profitable at EGP 233.63 million, against losses totalling EGP 4.39 million in Q2-20.

In a separate disclosure to the Egyptian Exchange (EGX), Raya Holding’s board recommended a cash dividend of EGP 0.06 per share to the entitled shareholders for the nine-month period that ended on 30 September 2021.