Cairo – Mubasher: The consolidated financial statements of Raya Holding for Financial Investment showed a 61% year-on-year decline in its profits during the first three quarters of 2018.
Raya posted a profit of EGP 15.79 million in the three-month period ended March 2018, down from EGP 40.6 million during Q1-17, according to a statement on Tuesday to the Egyptian Exchange (EGX).
Revenue rose to EGP 1.8 billion in Q1-18, compared to EGP 1.47 billion in the year-ago period, the EGX-listed firm noted.
At the level of standalone results, Raya suffered a loss of EGP 9.09 million in the first three months of 2018, against posting a profit of EGP 63.7 million in the comparative period of 2017.
