Eastern Company records 9% YoY profit growth in 9 months

PHOTO

ArabFinance: Eastern Company (EAST) reported a 9% year-on-year (YoY) increase in net profit for the nine-month period ended March 31st, according to the company’s unaudited financial results filed to the Egyptian Exchange (EGX) on May 8th.

The company’s net profit stood at EGP 4.2 billion during the first nine months of fiscal year (FY) 2021/2022, compared to a profit of EGP 3.9 billion in the FY-ago period.

Net revenue rose by 5% YoY to EGP 12.8 billion in the nine-month period ended March 31st from EGP 12 billion.

The growth in net revenue was driven by the local cigarettes sector, which made up 85% of net revenue.

Eastern Company is an Egypt-based company, which is engaged in manufacturing tobacco products.

The company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarettes’ filter rods and homogenized tobacco.