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Eastern Co, BAT to launch new product in December

Eastern Co, BAT to launch new product in December
Eastern Co, BAT debuts new product in December
Eastern Co
EAST
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Cairo – Mubasher: Eastern Co will partner with British American Tobacco (BAT) to launch a new product in December 2017.

The new product, Pall Mall red and blue labels, will be offered in the Egyptian market at a price of EGP 18, Eastern Co added in a statement to the Egyptian Exchange (EGX) on Sunday.

The anticipated product is Eastern Co’s second cigarette to produce in partnership with BAT after launching Viceroy, the Egyptian Tobacco company noted.  

In November, Eastern Co announced the new prices of its products after the value-added tax (VAT) on cigarettes hiked, as the increase ranges between 12.5% and 25%.

Egypt’s finance minister Amr El-Garhy had previously said that imposing VAT on tobacco will boost total tax revenues for fiscal year 2017/2018 by EGP 4 billion.

Eastern Co had previously 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.