Cairo – Mubasher: General Co. for Paper Industry (Rakta) reported EGP 12.7 million ($1.6 million) net loss for the first quarter of the fiscal year 2015/2016, down 21% from EGP 16 million ($2 million) logged in the prior-year period.
The company recorded EGP 20.9 million revenues in the three-month period, down from EGP 78 million generated in the same period a year ago.
Meanwhile, financial results for the fiscal year 2014/2015 showed that losses deepened by 136.8% to EGP 53.8 million, from EGP 22.7 million a year earlier.
