Egyptian Raya Holding’s profits fall 12.6% in 2017

Egypt-based Raya Holding Company for Technology and Telecommunication reported Wednesday a 12.6 percent decline in its profits, reaching 103.2 million Egyptian pounds ($5.8 million) during 2017.

Earlier, profits increased to 118.10 million pounds during 2016.

Revenues rose to 6.7 billion pounds last year from 5.6 billion pounds a year earlier.