Cairo – Mubasher: Eastern Co is looking to invest EGP 1.14 billion in fiscal year 2019/2020, versus estimated investments of EGP 1.24 billion this year.

The leading tobacco producer also plans to inject EGP 25 million into projects in the next fiscal year, versus EGP 50 million in FY18/19, Eastern Co said in a statement to the Egyptian Exchange (EGX) on Tuesday.

The company also aims to pump EGP 1.11 billion into maintenance and upgrade works in FY19/20, in addition to completing ongoing projects with EGP 51.8 million in investments.

Eastern Co targets a net profit of EGP 3.8 billion in FY19/20, against an expected profit of EGP 3.25 billion this year.

The EGX-listed firm intends to flow around EGP 67.8 billion into the state treasury next year, versus EGP 57.5 billion in FY18/19.