Rakta incures losses in FY 2019/2020

Losses were $6.18mln


ArabFinance: General Company for Paper Industry (Rakta) (RAKT) incurred a net loss of EGP 97.115 million in the fiscal year (FY) 2020/2021, according to the company’s statement filed to the Egyptian Exchange.

Rakta’s June loss reached EGP 9.847 million, the statement highlighted.

The listed company’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.

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.

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities