Egypt’s Eastern Tobacco Company posts 17% increase in its net profit in 7 months

Egypt’s top cigarette maker, Eastern Tobacco Company released on Thursday its latest financial indicators, reporting a 17 percent year-on-year (YoY) rise in its net profit to 2.95 billion Egyptian pounds ($187.56 million) in the first seven months of the financial year 2020/2021,

Last year, the company made a net profit of 2.52 billion pounds.

Sales grew to  37.7 billion pounds in the seven-month period ended on 31 January, compared to 33.2 billion pounds in the year-ago period, the company added.

In January, the tobacco manufacturer achieved net profits of 412 million pounds, up from 304.6 million pounds in the same month a year earlier, with sales amounting to 5.2 billion pounds.

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

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