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