Raya Holding’s consolidated profits up 27% YoY in 2023

Updated 3/10/2024 9:44:00 AM
Raya Holding’s consolidated profits up 27% YoY in 2023

Arab Finance: Raya Holding for Financial Investments (RAYA) has posted a 27.1% year-on-year (YoY) increase in consolidated profits attributable to the holding company in 2023 to EGP 441.358 million, compared to EGP 347.313 million, as per a filing.

Consolidated operating revenue soared to EGP 31.295 billion last year from EGP 20.413 million the year prior.

As for standalone financial results, the company incurred EGP 126.94 million in net losses in 2023, up from EGP 52.887 million in 2022.

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