General Company for Paper Industry (RAKTA) saw a 30.8% year-on-year (YoY) increase in its net losses after tax in the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company’s financial indicators filed to the Egyptian Exchange (EGX) on November 6th.

The company suffered net losses after tax of EGP 29.613 million in the period from July through September, versus EGP 22.642 million in the same period a FY earlier.

Meanwhile, revenues came in at EGP 125,000 in the three-month period, up 198% from EGP 42,000 during the same period last year.

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.

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