Cairo – Mubasher: Eastern Co. reported an 11.96% year-on-year profit decline, logging EGP 3.73 billion in fiscal year 2018/2019, according to a statement to the Egyptian Exchange (EGX) on Monday.
The Egyptian tobacco manufacturer’s financial indicators previously showed a profit of EGP 3.768 billion in the twelve-month period ended 30 June, compared to EGP 4.240 billion in the prior fiscal year.
Sales rose to EGP 13.89 billion in FY18/19, compared to EGP 13.41 billion in FY17/18.
The profit drop was ascribed to the EGP 71 million decrease in income from investment along with a credit interest of EGP 456 million.
Source: Mubasher
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