General Co. for Paper Industry (Rakta) announced that financial results for the fiscal year that ended on June 30, 2014 showed that net loss narrowed 8.8% to EGP 20.6 million, from EGP 22.6 million a year earlier.
The company’s financial indicators for the 11-month period that ended on May 31, 2014 had reflected EGP 19.2 million net loss. Meanwhile, Rakta logged EGP 4 million loss in May.
Rakta had posted EGP 13.6 million net loss for the first nine months of FY13/14, narrowing 28% from EGP 19 million in the same period a year earlier.
It also reported EGP 9.7 million net loss for H1-13/14, narrowing 59% from EGP 16.41 million in the same period a year earlier.