ArabFinance: General Company for Paper Industry (Rakta) reported a 9% Year on Year decline in its net loss in the second half of 2020, according to the company’s unaudited financial statements filed to the Egyptian Exchange.

Net loss stood at EGP 46.097 million in July-December 2020, compared to EGP 50.638 million 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.