Cairo – Mubasher: Raya Contact Center reported a 68.1% year-on-year (YoY) decline in its consolidated net profits, logging EGP 36.48 million in 2020, compared to EGP 114.57 million, including minority shareholders’ rights.

Revenues dropped to EGP 733.8 million last year from EGP 815.63 million in 2019, the company said in a bourse disclosure on Sunday.

The standalone net profits went down to EGP 85.03 million in 2020, compared to EGP 65.96 million a year earlier.

The board of directors decided not to distribute cash dividends for 2020’s earnings and proposed changing the name of the company.

The decisions will be referred to the company’s ordinary general meeting (OGM) for approval.

During the first nine months of 2020, the company achieved net profits of EGP 28.63 million, down from EGP 92.98 million in the corresponding period a year earlier, including minority shareholders’ rights.