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Raya Holding profits decline 11% in 2014

Raya Holding profits decline 11% in 2014
Photo Credit: Arabianeye-Reuters
Raya
RAYA
-0.21% 4.69 -0.01

Raya Holding for Technology and Communications posted net profits of EGP 49.4 million ($6.5 million) for 2014, compared with EGP 55.4 million ($7.3 million) for 2013, a decline of 11%.

Meanwhile, the company posted unconsolidated net profits of EGP 45.6 million for 2014, compared with EGP 90.1 million for the previous year, the company said in a bourse statement.

Raya is capitalised at EGP 420.5 million, divided into 84.104 million shares at EGP 5 par value each.