Cairo – Raya Holding for Financial Investment logged consolidated net profits valued at EGP 762.13 million in the first half (H1) of 2024, an annual surge from EGP 350.39 million.

Revenues hiked to EGP 20.08 billion in H1-24 from EGP 14.51 billion a year earlier, according to the financial statements.

Total assets hit EGP 35.25 billion as of 30 June 2024, versus EGP 27.14 billion at the end of December 2023.

Non-consolidated Results

During the first six months (6M) of 2024, the company shifted to net losses amounting to EGP 85.92 million, compared to standalone net profits of EGP 110.74 million in the year-ago period.

The total revenues dropped year-on-year (YoY) to EGP 339.57 million in H1-24 from EGP 374.45 million.

Loss per share reached EGP 0.03 in 6M-24, against earnings per share of EGP 0.05 in 6M-23.

Financials for Q2-24

In the second quarter (Q2) of 2024, the consolidated net profits of Raya Holding jumped to EGP 384.25 million from EGP 181.99 million in Q2-23. Revenues climbed to EGP 9.67 billion from EGP 7.96 billion.

Raya Holding turned profitable at EGP 87.46 million in April-June 2024, compared to losses of EGP 105.81 million a year earlier.

As of 31 March 2024, the EGX-listed company witnessed YoY higher consolidated net profit after tax and minority interest at EGP 330.95 million, compared to EGP 142.97 million.

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