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Raya considers establishing plastics factory in KSA

Raya considers establishing plastics factory in KSA
Raya
RAYA
0.64% 4.73 0.03
In reply to the Egyptian Exchange (EGX), Raya Holding for Technology & Telecommunications affirmed the media reports that it is studying the establishment of a plastics factory in Saudi Arabia.
Raya said it is currently conducting technical and financial studies for the project, adding that it will submit the project to the upcoming board meeting.
Raya’s Q1 financial results had shown EGP 3.3mln net profit in Q1-FY14, with increase by 50% from EGP 2.2mln in the same period a year earlier.
Raya’s FY13 financial results had shown EGP 55.4 million net profit, with 14% growth y/y from EGP 48.4 million