Cairo – Mubasher: Rakta Paper Manufacturing said its losses widened by 21% for the first quarter of the fiscal year 2016/17.

The company posted losses of EGP 15.3 million in Q1-FY16/17, up from EGP 12.7 million for the same period a year earlier.

Rakta reported losses of EGP 54.6 million for the fiscal year 2015/16, compared with EGP 53.77 million for the previous year.