Cairo – Mubasher: Eastern Co is targeting a 132% year-on-year hike in profits as part of its estimated 2018/2019 budget.

The Egyptian tobacco company is aiming at generating profits of EGP 3.25 billion for fiscal year 2018/2019, versus estimated profits of RGP 11.4 billion in the current fiscal year, Eastern Co said in a statement to the Egyptian Exchange (EGX) on Thursday.

The estimated budget targets the production of 87.5 billion cigarettes, including 23.6 cigarettes for export.

Eastern Co is also planning to produce 17,800 tonnes of hookah tobacco ‘Moassels’, according to the statement.