{"id":645947,"date":"2017-06-01T03:55:06","date_gmt":"2017-06-01T03:55:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/earnings-watch-egyptian-resorts-company-and-raya-contact-center\/"},"modified":"2017-06-01T03:55:06","modified_gmt":"2017-06-01T03:55:06","slug":"earnings-watch-egyptian-resorts-company-and-raya-contact-center","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/earnings-watch-egyptian-resorts-company-and-raya-contact-center\/","title":{"rendered":"Earnings watch: Egyptian Resorts Company and Raya Contact Center"},"content":{"rendered":"

EARNINGS WATCH- Egyptian Resorts Company<\/strong> (ERC) reported a consolidated net profit<\/a> of EGP 66.1 mn in 1Q2017, up from a net loss of EGP 1.4 mn in the same period last year. Revenues increased to EGP 121.3 mn in 1Q2017, up from EGP 10.3 mn in 1Q2016, on the back of revenue recognized from the sale of land plots. The company\u2019s management notes that, \u201cAs Sahl Hasheesh becomes one of the fastest growing Red Sea coastal destinations in Egypt, the company\u2019s growth in sales follows management\u2019s successful strategy of controlling the supply of the company\u2019s land bank starting late 2015 \u2014 during which major land sales were halted \u2014 with the aim of maximize its future value.\u201d<\/p>\n

In its maiden earnings as a publicly traded company, Raya Contact Center (RCC) <\/strong>reported a fivefold<\/a> year-on-year jump in consolidated net profits to EGP 40.2 mn in 1Q17, up from EGP 8.0 mn in 1Q16. Revenues for the quarter were up 87.6% y-o-y to EGP 174 mn, up from EGP 92.8 mn during 1Q16. \u201c Revenue growth for the quarter was driven by our push for organic expansion over the course of FY2016 \u2014 and as we capitalized on our global price-competitiveness as an Egyptian service exporter following the devaluation of the Egyptian pound in November 2016. Offshore revenues grew 105.5% y-o-y in 1Q17 to EGP 138.3 mn, representing c. 80% of total revenues in the period. Our revenue mix continued to be dominated by our outsourcing segment, which generated some 77.6% of our total revenue in 1Q17, followed by our hosting services at 13.7% and insourcing at 8.7%,\u201d said RCC CEO Reem Asaad.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Egyptian Resorts Company (ERC) reported a consolidated net profit of EGP 66.1 mn in 1Q2017, up from a net loss of EGP 1.4 mn in the same period last year. Revenues increased to EGP 121.3 mn in 1Q2017, up from EGP 10.3 mn in 1Q2016, on the back of revenue recognized from the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-645947","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b7161034-5251-47f4-a83f-ae5379fced9e","order":"0","is_powered_by":true,"section_story_id":"ae22ecad-2d45-4988-9d6d-d8a210325d8e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645935],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Egyptian Resorts Company and Raya Contact Center - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/earnings-watch-egyptian-resorts-company-and-raya-contact-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Egyptian Resorts Company and Raya Contact Center\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Egyptian Resorts Company (ERC) reported a consolidated net profit of EGP 66.1 mn in 1Q2017, up from a net loss of EGP 1.4 mn in the same period last year. 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