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Eastern Co profit soars 156% in 9M

Eastern Co profit soars 156% in 9M
Sales grew to EGP 10bn in the nine-month period of FY 2017/2018 from EGP 7.8bn
Eastern Co
EAST
-0.37% 27.00 -0.10

Cairo – Mubasher: The financial indicators of Eastern Co showed a 156.27% year-on-year hike in profits for the nine-month period ended March 2018.

Net profit amounted to EGP 3.4 billion during the July-March period of 2018, compared to EGP 1.3 billion 1.3 billion in the prior-year period.

Sales grew to EGP 10 billion in the nine-month period of fiscal year 2017/2018 from EGP 7.8 billion.

The Egyptian tobacco firm attributed the increase in profits to higher sales and lower provisions in the aforementioned period.

It is worth noting that the financial indicators of Eastern Co had previously shown a 160.8% year-on-year surge in the first half of FY17/18, recording a net profit of EGP 2.3 billion from EGP 890.3 million.