Raya To Subscribe by 49%In New Established Firm In Qatar

Raya Holding for Technology and Communications (RAYA.CA) BOD  approved during its meeting that Raya International Services, an affiliate to Raya, to subscribe by 49 % in a limited liability company that will be established in Qatar with capital of about 300.000 Qatari Riyals (EGP 499.867 thousand).

Elsewhere, Raya’s consolidated financial statements during 2011 have revealed that the company has posted net profits of EGP 34.563 million, down 18.2%. Noting that Raya had posted net profits of EGP 42.259 million a year earlier.

Moreover, the company’s unconsolidated financial statements have shown that it had posted profits of EGP 63.666 million in 2011, compared to net profits of EGP 26.621 million in 2010.