Egypt's Eastern Tobacco reports 20% profit hike in FY 2013/14

Ahram Online, Sunday 28 Sep 2014

Egypt's cigarette monopoly sees net profits of LE908.4 million in fiscal year ending in June 2014

Egypt's Eastern Tobacco (Photo:Ahram)

Egyptian cigarette monopoly Eastern Tobacco saw its revenues rise 20.4 percent in the fiscal year ending on 30 June, compared to the same period the previous year, the bourse announced on Sunday.

The company posted LE908.4 million in profits for the fiscal year 2013/14, up from a reported LE754.4 million the same period a year earlier.

The top line amounted to LE6.2 billion in this period, compared to LE5.4 billion year-on-year.

The monopoly's parent company, Eastern Company, is the only manufacturer of tobacco products in the Arab world's most populous country, employing more than 13,000 workers.

Market capitalisation for Eastern Company is LE103.5 billion and its share was last traded on Thursday to close at LE178 per share.


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