Cairo – Mubasher: The consolidated net profits of Raya Holding for Financial Investment increased by 49.6% to EGP 53.58 million in the first three months (3M) of 2022, compared to EGP 35.80 million in the same period of 2021.
The company's revenues amounted to EGP 4.47 billion in the first quarter (Q1) of 2022, up from EGP 4.03 billion in Q1-21, according to a bourse filing on Monday.
As for the standalone businesses, the company has incurred net losses of EGP 49.83 million in the January-March period of 2022, against net profits of EGP 279 million in the year-ago period.
It is noteworthy to mention that in 2021, the company achieved consolidated net profits of EGP 541.38 million, versus net losses of EGP 45.68 million in 2020, including minority shareholders' rights.
