EAST
Cairo – Mubasher: The financial indicators of Eastern Co on Thursday showed a 143.7% year-on-year hike in profits for the first quarter of fiscal year 2017/2018 due to higher sales.
The tobacco company achieved profits of EGP 1.04 billion in the three months ended September 2017, versus EGP 427.3 million in the prior-year period, the firm said in a filing to the Egyptian Exchange (EGX).
Sales surged 65.67% to EGP 3.17 billion in Q1 of FY17/18 from EGP 1.9 billion in Q1 of FY16/17.
The EGX-listed company had previously posted profits of EGP 2.9 billion in FY16/17, versus EGP 1.47 billion in FY15/16.
Eastern Co closed Wednesday’s trading session up 1.58% at EGP 309.79, with a turnover of EGP 1.02 million.