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Eastern Company’s profits up to EGP 3.48bn in H1-22/23

Eastern Company’s profits up to EGP 3.48bn in H1-22/23
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Eastern Co
-2.38% 35.31 -0.86

Cairo – Mubasher: Eastern Company posted a 19% year-on-year (YoY) rise in net profit after tax to EGP 3.48 billion during the first half (H1) of fiscal year (FY) 2022/2023, versus EGP 2.92 billion.

The revenues stood at EGP 9.93 billion during the six-month period that ended on 31 December 2022, up 16% YoY from EGP 8.53 billion, according to the income statements.

Additionally, the earnings per share (EPS) increased to EGP 1.47 in H1-22/23 from EGP 1.23 in H1-21/22.

Income Statements for Q2-22/23

In the second quarter (Q2) of FY22/23, Eastern Company logged net profits after tax worth EGP 2.08 billion, an annual hike of 58% from EGP 1.32 billion.

The revenues surged by 26% to EGP 5.31 billion in Q2-22/23 from EGP 4.22 billion in Q2-21/22, whereas the EPS widened to EGP 0.89 from EGP 0.55.

During the July-September 2022 period, the EGX-listed firm achieved net profits worth EGP 1.40 billion, lower by 12% YoY than EGP 1.59 billion.