Raya Customer Experience (RCX) saw its net income more than double y-o-y to EGP 339.9 in FY 2024, the company said in its latest earnings release (pdf). The leading business process outsourcing company’s revenues also rose 29.6% y-o-y to EGP 2.5 bn during the same period.

The breakdown: The company’s outsourcing business remains the largest contributor to revenues, recording EGP 1.4 bn, or 54.8% of total revenues in 2024, while the hosting business was the primary contributor to growth, increasing by 74.8% y-o-y and accounting for EGP 727.1 mn. The insourcing business recorded EGP 413.0 mn, or 16.4% of the total revenues, according to the release.

Driving the growth: The top line growth was largely driven by “BPO/offshore business, improved utilization rates across facilities, and favorable effects from the EGP devaluation,” the company said. Offshore revenues in foreign currency represented 76.3% of the total revenues last year, aligning with ““RCX’s strategic focus on consolidating USD-recurring revenues to mitigate the impact of foreign exchange fluctuations.”

What they said: “A core strategic pillar at RCX has always been diversification — across currencies, geographies, and business lines. In line with this vision, we are expanding our footprint in key regions such as the GCC, with the launch of a new site in Dammam to support our growth in Saudi Arabia. We are also making strides in Europe through the establishment of our UK entity, which positions us to capture new business opportunities in that market,” CEO Alaa El Khishen noted.

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