Rakta anticipates incurring loss in FY 2021/2022
Updated 6/2/2021 6:20:00 PM
ArabFinance: General Company for Paper Industry (Rakta) (RAKT) anticipated incurring a net loss of EGP 62.992 million in the fiscal year (FY) 2021/2022, according to a filing to the Egyptian Exchange on June 2nd.
The company incurred a net loss of EGP 46.097 million in FY 2020/2021.
Rakta's ordinary general assembly approved the estimated budget of FY 2021/2022, targeting net sales of EGP 2.8 million, compared to EGP 0.5 million in FY 2020/2021 and EGP 26 million in FY 2019/2020.
The listed company incurred a net loss of EGP 69.31 million during the July-February period of the fiscal year 2020/2021
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.
