ArabFinance: General Company for Paper Industry (Rakta) (RAKT) reported a 41% Year on Year decline in its net profit in the first three months of the fiscal year (FY) 2020/2021, according to the company’s November 2ndfinancial statements filed to the Egyptian Exchange.

Net loss stood at EGP 16.326 million in the July-September period of 2020, compared to EGP 27.833 million achieved 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 reported a net loss of EGP 12.3 million in August 2020, a 156% rise from EGP 4.8 million incurred in August 2019.

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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