Cairo — Mubasher: Eastern Co, Egypt’s monopoly cigarette maker, on Thursday has announced that it is considering new manufacturing contracts with international companies.

The contracts are still under discussion and any further details will be announced immediately upon taking any action, the company said in a statement to the Egyptian Exchange (EGX).

During the first quarter of fiscal year 2018/2019, the Egyptian tobacco company posted a net profit of EGP 991.18 million, 5% down from EGP 1.04 billion in the prior-year period.

From June to September 2018, the company’s revenues rose to EGP 3.3 billion, compared to EGP 3.17 billion in the comparable quarter of 2017.

Eastern Co previously announced a profit of EGP 4.2 billion for fiscal year 2017/2018 due to higher revenues, compared to EGP 2.9 billion in FY16/1.