Rakta anticipates incurring loss in FY 2021/2022

Rakta is an Egypt-based public shareholding company engaged in the production and distribution of printing and wrings papers

  

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 EGO 0.5 million in FY 2020/2021 and 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.

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