Egypt: Raya Holding’s consolidated profit hits $11.46mln in 2023

Cairo –  Raya Holding for Financial Investment logged a consolidated net profit of EGP 563.88 million in 2023 from EGP 419.23 million a year earlier.

The revenues soared to EGP 31.29 billion last year from EGEP 20.41 billion in 2022, according to the annual financial results.

Total assets jumped to EGP 27.14 billion in 2023 from EGP 20.77 billion the year before.

Standalone Financials

On the other hand, the company reported a standalone net loss of EGP 126.93 million last year, up from EGP 52.88 million in 2022.

Meanwhile, gross profit soared to EGP 518.29 million in the 12-month period that ended on 31 December 2023, versus EGP 284.06 million the year before.

The loss per share recorded EGP 0.059 last year, up from EGP 0.025 in 2022.

In the first nine months (9M) of 2023, the consolidated net profit of Raya Holding registered EGP 489.22 million, an annual hike from EGP 283.91 million.

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