Cairo – Mubasher: Raya Contact Center on Thursday announced it has used EGP 65 million of the proceeds of the capital hike subscription listed in November 2017 by the end of 2018.

The company has used part of the proceeds to prepare high-quality visual and audio communication services centre and supply it with the required machines and equipment, according to a statement to the Egyptian Exchange (EGX).

The remaining sum of the proceeds amounts to EGP 35 million out of total EGP 100 million, the Cairo-based firm indicated.

On Wednesday, Raya Contact Center reported a net profit of EGP 180.53 million for the full-year ended 31 December 2018, versus EGP 158.5 million in 2017.

Revenues increased to EGP 908.5 million in the 12-month period ended December 2018 from EGP 759.09 million a year earlier.

Meanwhile, the company logged EGP 128.6 million in standalone profits last year, compared to EGP 94.8 million in 2017.