Cairo – Mubasher: Eastern Co posted a 7% year-on-year profit growth during the first quarter of fiscal year 2019/2020.

The tobacco manufacturer’s net profits increased to EGP 1.05 billion in the July-September period, compared to EGP 991.18 million in the same period a year earlier, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Sales rose to EGP 3.68 billion during the three-month period ended 30 September from EGP 3.39 billion in the year-ago period.

It is noteworthy that during FY18/19, the company’s net profits dropped by 11.96% year-on-year to EGP 3.73 billion.