ArabFinance: Raya Holding for Financial Investments posted a consolidated net profit before minority interest of EGP 27.782 million in quarter one (Q1) 2021, according to the companys May 23rdfinancial statements filed to the Egyptian Exchange.

In Q1 2020, the company incurred a loss of EGP 73.259 million.

Standalone net profit reached EGP 279.004 million in Q1 2021, a 357% jump from EGP 61.092 million posted in the prior-year period.

Raya announced that it sold its 9 million shares in Aman Financial Services to the National Bank of Egypt (NBE).

Established in 1999 and listed on EGX in 2005, Raya 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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