Cairo – Mubasher: Eastern Co on Thursday announced the new prices of its products after applying the value-added tax.

The price of Cleopatra king size will be raised by 21.7% to EGP 14 from EGP 11.5, while Cleopatra queen soft and Cleopatra box prices will rise from EGP 12.5 to EGP 14.5 and from EGP 12.75 to EGP 15.5, respectively, the company highlighted in a statement to the Egyptian Exchange (EGX).

The prices of Mondial, Boston, Light, and Belmont will become EGP 15 instead of EGP 12, according to the statement.

Prices of Super and West will be EGP 17 instead of EGP 15, while Black Label’s price will increase by 12% to EGP 18 from EGP 16.

The tobacco company indicated that prices will be adjusted on 23 November in accordance with the VAT.

Egypt’s finance minister had previously said that applying VAT on tobacco will boost total tax allocation for fiscal year 2017/2018 by EGP 4 billion.

Eastern Co had posted a net profit of EGP 1.04 billion in the three-month ended September 2017, up from EGP 427.3 million in the prior-year period.