Cairo – Mubasher: Eastern Co has achieved a new record in the volume of production which exceeded 7 billion cigarettes in March, surpassing a previous record by 10%.

The volume of production surged by 45% year-on-year (YoY) in March and with a compound monthly rate of 15% since the beginning of the current fiscal year, the tobacco manufacturer said in a bourse disclosure on Sunday. 

The daily output rates increased significantly during the last months by more than 25% as a result of the implementation of new production policies.

The volume of local sales in March also registered a new record, with above 6.1 billion cigarettes, rising by 25% compared to the same month in 2020.

“This increase was achieved as a result of implementing the marketing and sales plans for the company's products, following up the markets, discovering all the growth opportunities, and closing the sales gaps.”

During the first half (H1) of FY20/21, the company reported net profits of EGP 2.54 billion.

Revenues went up to EGP 8.16 billion in the July-December period of 2020 from EGP 7.69 billion in the corresponding period a year earlier.