Cairo – Mubasher: Egypt’s cigarette maker Eastern Company (Eastern Tobacco) reported a 19.7% decline in its profits for the fourth quarter of the fiscal year 2015/16 (Q4), the unaudited financial results revealed.
Its Q4 earnings thus slid to EGP 346 million ($39 million) in Q4 from EGP 431 million ($49 million) for the year-ago quarter, a bourse filing indicated.
During the course of 2015/16, the company's net profits after tax rose 12% year-over-year to EGP 1.4 billion ($161 million) from EGP 1.3 billion ($144 million).
Earnings per share were also higher during the same fiscal year after standing at EGP 32.1 compared with EGP 22.9 registered a year earlier.
In the first nine months of 2015/16, earnings hit EGP 1.08 billion, higher 28% year-on-year from EGP 841.760 million.
