Raya Holding for Financial Investments (RAYA) has reported a 63.08% year-on-year (YoY) increase in consolidated profits attributable to the holding company during the first nine months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on November 16th.

The EGX-listed company achieved consolidated profits excluding minority interest of EGP 392.946 million during the January-September period, compared to EGP 240.958 million in the same period in 2022.

The company’s consolidated operating revenue surged to EGP 22.657 billion during the nine-month period from EGP 14.101 billion during the first nine months 2022.

As for standalone financial results, the company reported EGP 56.689 million in net profit after tax, compared to EGP 85.760 million in the same period last year.

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.

 

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