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Article: News in brief.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- August 18, 2009
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Raya sees drop in income year-on-year
Raya Holding posted a net income of LE 12.5 million in the first half of 2009, down 60 percent from the previous year's LE 30.4 million, the company said in a statement on the stock exchange website.Aa
Revenues dropped 18.5 percent to LE 893 million from LE 1,095 million in the first half of 2008.
In its daily market report, Beltone Financial said, "With weakness, in terms of profitability, carried over from the first quarter of 2009 to the second quarter, Raya's quarter-on-quarter performance was not impressive."
Net income for the second quarter of 2009 came in at LE 8.8 million, compared to LE ...