Eastern Co records profits of EGP 3.13bn in 9 month
Eastern Company’s net profit increased of 8 percent recording 3.13 billion Egyptian pounds in the first nine months of fiscal year 2019/2020, compared to 2.895 billion pounds a year earlier according to an unaudited financial results.
The profit increase was attributed to several reasons, most importantly the rise in gross profits by 600 million pounds.
The state-owned tobacco manufacturer generated 11.36 billion pounds in revenue from July 2019 until the end of last March, up from 10.55 billion pounds in the corresponding period a year earlier.
It is worth mentioning that during the first half of FY19/20, Eastern Co. logged 2.21 billion pounds in net profits, compared to 2.02 billion pounds in the prior-year period.
