Cairo-Mubasher: Raya Holding for Technology and Communications said on Sunday it forecasts the ATM solution sales of its subsidiary Raya Systems to increase from EGP 100 million to EGP 120 million by 2016.
The expectations are based on the tenders which are likely to be issued in 2016, the company said in a bourse statement.
The ATM solution sales reached EGP 60 million in 2015.
The EGX-listed company is in talks with nine local banks to finance the update and supply of ATMs, as part of the state’s comprehensive financing policies, a local newspaper reported.
Raya posted EGP 86.19 million in net earnings for the first nine months of 2015, compared with EGP 17.3 million in the year-ago period.
