Cairo – Mubasher Rakta Paper Manufacturing Company’s adjusted unaudited financial statements showed a 78.9% increase in its losses for the second quarter of the fiscal year 2016-17.

Adjusted losses amounted to EGP 22.42 million in Q2-16/17, compared to EGP 12.53 million for Q2-15/16.

In the first half of 2106/17, adjusted losses worsened 54% to EGP 38.72 million from EGP43.87 million for H1-15/16.

Revenues rose in H1-16/17 by 49% to EGP 65.4 million from EGP 43.8 million for H1-15/16, according to a bourse filing.

The company’s unaudited financial statements for Q2-16/17 showed a net loss of 20.1 million, against a profit of EGP 1.3 million for Q215/16.