Cairo – Mubasher: Raya Holding for Financial Investments reported an 87.52% year-on-year (YoY) rise in its net losses to EGP 95.529 million during the first half (H1) of 2020 from EGP 50.944 million.
The company’s activity cost increased to EGP 3.878 billion in H1-20 from EGP 3.276 billion in H1-19, according to a bourse disclosure on Sunday.
Meanwhile, the revenues grew to EGP 4.77 billion in the six-month period ended on 30 June from EGP 4.058 billion in the corresponding period a year earlier.
As for standalone business, the company turned to net losses of EGP 32.476 million in H1-20, against net profits of EGP 131.871 million in H1-19.
During the first quarter (Q1) of 2020, Raya Holding’s net losses rose to EGP 68.8 million from EGP 26.2 million in Q1-19, including minority shareholders’ rights.
