Cairo – Mubasher: Raya Holding for Technology and Communications posted an increase by 110% in 2015 consolidated profits for the fiscal year 2015.
The company’s consolidated profits for 2015 jumped to EGP103.8 million from EGP49.4 million a year earlier, the company said in a bourse filing.
Meanwhile, the company’s unconsolidated profits for 2015 rose to EGP76.5 million from EGP45.6 million in 2014.
In the first nine months of 2015, Raya Holding registered EGP86.19 million in net consolidated profits, compared to EGP17.3 million for the year-ago period.
On the other hand, the board of directors approved the report filed by the Independent financial advisor in which the fair value of Raya Holding investment in Tenth of Ramadan Pharmaceutical Industries (RAMEDA) is set.
The fair value of Raya investments stands at EGP350 million, distributed over 160,900 shares, at EGP 21.78 par value each.
In 2011, Ray Holding acquired a stake of 28.8%, or 120,000 shares in RAMEDA.
