Egypt’s Raya posts 62% Fall in H1 Profit

Egypt’s Raya Holding for Technology & Telecommunications (RAYA.CA) registered first half net profit fell worth EGP 9.2 million, 62.2% down from EGP 24.4 million in the same period a year earlier.
The company’s H1 standalone financial statements mirrored EGP 50.7 million net profit, compared with EGP 58.4 million in H1-13.
Q1-14 net profit had soared 121% to EGP 3.3 million, from EGP 2.2 million in Q1-13.