Cairo – Mubasher: Raya Holding for Financial Investments turned to net profits of EGP 35.80 million in the first quarter (Q1) of 2021, against net losses of EGP 68.80 million in the year-ago period, including minority shareholders’ rights.
The company’s revenues surged to EGP 4.031 billion in the January-March period, compared to EGP 2.36 billion in the corresponding period a year earlier, according to a bourse disclosure on Sunday.
As for standalone business, the company logged EGP 279 billion in net profits in Q1-21, up from EGP 61 million in Q1-20.
The board of directors recommended a cash dividend of EGP 0.045 per share for Q1-21. The proposal will be referred to the company’s ordinary general meeting (OGM) for approval.
During 2020, Raya Holding suffered consolidated net losses of EGP 45.68 million, down from EGP 85.1 million a year earlier, including minority shareholders’ rights.
