Raya Holding Q1 Profits Record EGP 2.4 Mln

Raya Holding Co. (RAYA.CA) has posted net profits of EGP 2.4 million during the first quarter of 2012, higher with 425.4% after witnessing net profits of EGP 456.876 thousand during the same comparable period of 2011.

Raya’s consolidated revenues during Q1 rose 41.4% to reach EGP 701.4 million, compared to EGP 496.1 million. The gross profits, after excluding the revenues, amounted to EGP 75.1 million, higher 10.7%, noting that the company’s gross profits reached EGP 69.9 million a year earlier.

Raya’s operating profits valued at EGP 12.4 million in 2012, higher 0.11%, as the operation profits reached EGP 11.2 million a year earlier.

The non-consolidated financial statements for Q1 of 2012 revealed that the company posted net profits of EGP 20.954 million, compared to EGP 23.754 million in 2011.

Raya’s issued capital values at EGP 310.825 million distributed to 62.165 million securities in which the par value amounts to EGP 5 a share.