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Raya Holding’s revenues hit EGP 22.65bn in 9M-23; profits up

Raya Holding’s revenues hit EGP 22.65bn in 9M-23; profits up
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Cairo – Mubasher: The consolidated net profit after tax of Raya Holding for Financial Investment hit EGP 489.22 million in the first nine months (9M) of 2023, an annual hike from EGP 283.91 million, including minority interest.

Revenues climbed year-on-year (YoY) to EGP 22.65 billion as of 30 September 2023 from EGP 14.10 billion, according to the income statements.

Total assets hit EGP 27.06 billion in 9M-23, versus EGP 20.77 billion as of 31 December 2022.

Standalone Business

Raya Holding generated standalone net profits after tax worth EGP 56.68 million in 9M-23, compared to EGP 85.76 million in the year-ago period.

Non-consolidated revenues surged to EGP 419.26 million as of 30 September 2023 from EGP 222.15 million in 9M-22, while the earnings per share (EPS) edged down to EGP 0.02 from EGP 0.03

Financials for Q3-23

During the third quarter (Q3) of 2023, the EGX-listed firm logged consolidated net profits valued at EGP 183.83 million, compared to EGP 113.78 million a year earlier, including non-controlling interest.

The company posted higher revenues at EGP 8.14 billion in Q3-23, versus EGP 4.97 billion in Q3-22.

In July-September 2023, Raya Holding turned to non-consolidated net losses amounting to EGP 54.05 million, against net profits of EGP 8.27 million in Q3-22. Meanwhile, the standalone revenues grew to EGP 91.61 billion from EGP 62.88 million.

In the first half (H1) of 2023, the consolidated net profits after tax jumped to EGP 350.39 million from EGP 170.13 million in H1-22, including minority interest.