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Egypt's Raya 2011 H1 profit falls 39 per cent

Reuters, Wednesday 10 Aug 2011

Telecoms and IT firm sees gains for the first six months fall to LE12.4 million

Egypt's Raya Technology and Communication posted a 39 per cent decline in first-half net profit to LE12.4 million (US$2.1 million), the stock exchange said on Wednesday.

Raya, which sells mobile handsets, runs call centres and provides outsourced IT services, made a net profit of LE20.4 million for the same period in 2010.

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