Egypt: Raya Holding posts over $13.5mln consolidated profits in 2022

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The consolidated net profits after tax of Raya Holding for Financial Investment hit EGP 419.23 million in 2022, versus EGP 541.38 million in 2021, including minority interest.

Revenues jumped to EGP 20.41 billion last year from EGP 16.85 billion in 2021, according to the income statements.

Additionally, the total assets enlarged to EGP 20.77 billion during the January-December 2022 period from EGP 14.41 billion in 2021.

Standalone Financial Results

As for the standalone business, Raya Holding shifted to net losses after tax worth EGP 52.88 million in 2022, against net profits of EGP 445.75 million in 2021.

The basic and diluted loss per share reached EGP 0.02 in the 12-month period that ended on 31 December 2022, compared to earnings per share (EPS) of EGP 0.20 a year earlier.

Non-consolidated revenues increased to EGP 284.06 million last year from EGP 170.72 million as of 31 December 2021, whereas the total assets grew to EGP 3.59 billion from EGP 3.17 billion.

In the first nine months (9M) of 2022, the EGX-listed company generated EGP 283.91 million in consolidated net profits after tax, an annual drop from EGP 481.86 million, including minority shareholders' rights.