Cairo - Mubasher: Egypt’s cigarette producer Eastern Company (Eastern Tobacco) announced that its board of directors has approved the financial indicators for the first quarter of the fiscal year 2015/16, which reflected an increase of 35.9% in net profits.

The company saw net profits of EGP 367.4 million for Q1-FY15/16, up from EGP 270.35 million for the similar period a year earlier.

Meanwhile, the company posted revenues of EGP 1.8 billion in Q1-FY15/16, compared with EGP 1.6 billion for the comparable period in the previous year.

Egypt tobacco maker is capitalised at EGP 750 million, distributed across 50 million shares at EGP 15 par value each.