Cairo – Mubasher: Egypt’s cigarette maker Eastern Company (Eastern Tobacco) reported an increase of 16.3% in net profits for the first quarter of the fiscal year 2016/17.
The cigarette maker profits stood at EGP 427.3 million in Q1 – FY16/17, up from EGP 367.4 million a year earlier.
Previously, the company said it suffers from shortage in foreign currency supplies in order to meet its needs of raw materials.
Eastern Tobacco after – tax profits stood at EGP 1.4 billion at the fiscal year 2015/16, up by 12% from EGP 1.3 billion at the previous year.
