ArabFinance: General Company for Paper Industry (Rakta) reported a 73% Year on Year decline in its net loss in the first four months of the fiscal year (FY) 2020/2021, according to the company’s statements filed to the Egyptian Exchange.

Net loss stood at EGP 5,987,562 in July-October 2020, compared to EGP 22,313,251 incurred in the prior-year period.

Rakta signed on October 13th a technical consulting contract with India-based C2C Consultancy for the rehabilitation and development of the former's factories.

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.