The board of cigarette maker Eastern Company (Eastern Tobacco) approved on Monday purchasing investment certificates of the new Suez Canal at a value of EGP 100 million in two equal portions according to available liquidity.
The company’s financial indicators for the fiscal year that ended on June 30, 2014 showed EGP 883.2 million net profit, with a 17% increase compared with EGP 754.4 million net profit a year earlier.
The company generated EGP 6.2 billion total sales in FY13/14, compared with EGP 5.4 billion in FY12/13.
Financial results for the nine-month period that ended on March 31, 2014 had shown EGP 705 million net profit, representing a 6.3% rise from EGP 663 million in the year-ago period.