Cairo – Mubasher: Eastern Company on Sunday denied news reports that claimed it was increasing the prices of local cigarettes.
"These news reports are ungrounded," the company said in a filing to the Egyptian Stock Exchange (EGX).
The cigarette firm previously said it was targeting a net profit of EGP 1.35 billion in 2016. It posted a profit of EGP 1.08 billion for the first nine months in the fiscal year 2015-2016.
