Raya Aims to Exceed EGP 2.5 Mln Business Volume

Raya Holding for Technology and Communications aims to achieve a business volume exceeding EGP 2.5 billion during the current year, based on the diversity of its investment and expansion into overseas markets in the field of information technology.

Eng. Medhat Khalil, Chairman and CEO of Raya, stated that the company seeks to expand abroad, particularly into the Gulf region by opening a number of branches, for example, in Abu Dhabi and Qatar to increase the use of technology in big markets.  He noted that the company’s orientation towards Gulf markets can be attributed to their continuous growth and the availability of fields which requires information technology such as petroleum companies, banks, and others.

He also pointed out that the company is specialized in 15 fields, noting that the number of companies affiliated to  RAYA reaches about 20 companies and that Raya owns the majority of shares in such companies, which allows it to be fully in charge of managing them. Moreover, the company has low shares in a number of companies such as Ramida and Fawry.

Above all, the company has launched investments in Gulf markets by investing EGP 0.5 million in a Qatari company with a share of 49% of the company’s capital, he said, noting that the company has opened a new office in Abu Dhabi to serve the Gulf region by providing infrastructure of the software required for the companies working major sectors like petrol and others.

The results of the company’s consolidated business revealed that Raya Holding for Technology and Communications achieved a net profit of EGP 12.436 million in the first half of 2012, recording a slight growth of 0.1%, compared to a net profit of EGP 12.423 million in the first half of 2011.