Cairo - Mubasher: Rakta Paper Manufacturing net losses widened by 25.6% to EGP 4.9 million in September, compared with EGP 3.9 million in the previous month.
The company pointed out that it strives to cut gas consumption, following its recent price increases, through shifting to electricity as lower-cost source of energy.
The firm suffered EGP 12.6 million in losses for the first three months of FY15/16, compared with EGP 15.9 million for the same period a year earlier.
Rakta is capitalised at EGP 150 million, distributed across 30 million shares at EGP 5 par value each.
