RAYA HOLDING FOR FINANCIAL INVESTMENTS
RAYA
Financial ResultsNeutral News
Raya Holding Soars to EGP 564M Profit in 2023 Amid Revenue Surge
Raya Holding reports a 34% profit surge to EGP 564M in 2023, driven by revenue growth, but standalone losses widen.
March 10, 2024 at 12:07:00 PMScore: 68
Raya Holding for Financial Investment reported a consolidated net profit of EGP 563.88 million in 2023, a significant leap from EGP 419.23 million in 2022. Annual revenues skyrocketed to EGP 31.29 billion, up from EGP 20.41 billion the previous year. Total assets also surged to EGP 27.14 billion, compared to EGP 20.77 billion in 2022. However, standalone financials revealed a net loss of EGP 126.93 million, worsening from EGP 52.88 million in 2022. Gross profit rose sharply to EGP 518.29 million, up from EGP 284.06 million, while loss per share increased to EGP 0.059 from EGP 0.025. For the first nine months of 2023, consolidated net profit jumped to EGP 489.22 million, up from EGP 283.91 million year-on-year.
Recommended Actions
- Consider holding RAYA shares amid consolidated growth
- Monitor standalone financial performance closely
- Compare with sector peers' profitability trends
- Review Q4 2023 cash flow statements
- Consult a financial advisor for risk assessment
Positive Aspects
- 34% consolidated profit growth
- 54% revenue surge
- 31% asset expansion
Negative Aspects
- Widening standalone net loss
- Increased loss per share (EGP 0.059)
Recent News
January 22, 2024 at 12:37:00 PMGiza Contracting Secures EGP 539 Million Mega-Contract for New Aswan City Development
July 3, 2024 at 10:22:00 AMLink Holdco Trims Fawry Stake Amid Block Trade SurgeMarch 10, 2024 at 12:07:00 PMRaya Holding Soars to EGP 564M Profit in 2023 Amid Revenue Surge
May 29, 2024 at 10:36:00 AMRaya Holding Soars with 131% Profit Surge in Q1-24 Amid Standalone Losses
GGCC
GIZA GENERAL CONTRACTINGEgyptian construction giant lands major infrastructure deal while navigating revenue challenges in 2023 financials
FWRY
FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENTLink Holdco reduces Fawry stake to 4.99% following a EGP 1.02B block trade; Q1 profit surges 135% YoY.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports a 34% profit surge to EGP 564M in 2023, driven by revenue growth, but standalone losses widen.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports soaring Q1-24 consolidated profits but faces standalone losses as revenues and assets grow.
