Rakta reports 156% loss increase
Updated 9/28/2020 3:19:49 PM
ArabFinance: General Company for Paper Industry (Rakta) (RAKT) reported 156% year on year rise in its net loss in August 2020, , according to the company’s September 28th financial statements filed to the Egyptian Exchange.
Net loss stood at EGP 12.3 million in August 2020, compared to EGP 4.8 million incurred in August 2019.
In March, the company's ordinary general meeting ratified suspending the production that has taken effect since September 25.
Rakta is an Egypt-based public shareholding company engaged in the production and distribution of printing and wrings papers, and multi-layered duplexes carton papers.
