ArabFinance: Eastern Company (EAST) increased the selling price of its products, including cigars and tobacco, according to a September 7th disclosure to the Egyptian Exchange.
The new price list has been effective since September 6th, following the board meeting on the same day.
The selling price of Matossian tobacco of 40 grams, red and green, has been raised to EGP 40, instead of EGP 32.
Eastern Company revealed that the cigar’s lowest new selling price was set for Petit Verona at EGP 45, compared to the previous EGP 30.
Meanwhile, the highest price in the new list has been announced for Corona jose bartolo dules at EGP 1,350 per package, instead of the previous EGP 1,000.
The tobacco company recently approved the fiscal year 2020/2021 budget, targeting a net profit of EGP 4.3 billion.
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