Egypt’s Raya Q2 net profit jumps 190%

Big 5

Egyptian information technology firm Raya Holding (RAYA.CA) reported a 190 percent increase in second quarter net profit, according to a bourse filing.

The company generated 42.32 million Egyptian pounds ($4.7 million) in Q2-16, compared to 14.58 million pounds ($1.6 million) registered in Q2-15.

During the first six months, net profit grew to 41.7 million pounds from 18.44 million pounds recorded in the same period last year.