ArabFinance: El Badr Plastic Company (EBDP) reported a 28% Year on Year decline in its net loss for the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.

Net loss stood at EGP 976,500 in H1 2020, compared to EGP 1,362,137 achieved in H1 2019.

The company earlier decided to cut the issued and paid-up capital, by the amount of retained loss worth EGP 3,825,000, from EGP 7,650,000 to EGP 3,825,000.

The company will cut the capital by reducing its share's par value from EGP 1 to EGP 0.5.

Founded in 2002 and listed on EGX in 2008, El Badr specializes in providing plastic packaging solutions to meet all packaging and design needs.