Egypt-listed Eastern Company targets $269.5mln net profit for 2020/2021

The company also targets a total revenue of $995.5mln for the same period

  
A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

REUTERS/Mohamed Abd El Ghany

Eastern Company’s targeted net profit for the fiscal year 2020/2021 is 4.3 billion Egyptian pounds ($269.5 million).

The company said in a statement to the Egyptian Stock Exchange that it also targets a total revenue of 15.9 billion Egyptian pounds for the same period.

Eastern reported a profit of 914.19 million Egyptian pounds for the three months period ending on March 31, 2020 (Q3), compared to 867.04 million Egyptian pounds for the same period last year.

Eastern’s revenue stood at 3.68 billion Egyptian pounds for the three months period ending on March 31, 2020 (Q3), compared to 3.4 billion Egyptian pounds for the same period last year.

The company is based in Egypt and engaged in manufacturing tobacco products.

(Reporting by Gerard Aoun; editing by Seban Scaria)

( gerard.aoun@refinitiv.com )

#Egypt #Eastern Company #Profit

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© ZAWYA 2020

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