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Raya declares H1 profit falls 39 pc
CAIRO : Egypt 's Raya Technology and Communication posted a 39 percent drop in first-half 2011 net profit to 12.4 milli
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CAIRO: Egypt's Raya Technology and Communication posted a 39 percent drop in first-half 2011 net profit to 12.4 million Egyptian pounds ($2.1 million), it said in a statement emailed on Sunday.
Raya, which sells mobile telephone handsets, runs call centres and provides outsourced IT services, said it made a net profit of 20.4 million pounds for the same period in 2010.
The announcement came after the market closed, where Raya shares had risen by 6.8 percent to 4.84 pounds per share, while Egypt's broader EGX70 index inched 1.5 percent higher.
Copyright Reuters, 2011
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