Cairo – Mubasher: Eastern Company has achieved EGP 4.03 billion in its net profit after tax and provisions during fiscal year (FY) 2021/2022, down 6% when compared to EGP 4.28 billion a year earlier.
Basic earnings per share (EPS) amounted to EGP 1.61 in FY21/22, compared to EGP 1.74 in FY20/21, according to a bourse filing on Wednesday.
The company’s revenue increased by 7% year-on-year (YoY) in the 12-month period ended 30 June 2022 to EGP 17.13 billion, compared with EGP 16.02 billion in the previous year. This growth in revenue was helped by the local cigarette sector, which represents 85% of the net revenue generated.
Earlier today, the company approved the new price list of Pall Mall and Viceroy cigarettes brands. The price of the 20-cigarette packs of Pall Mall (red, blue) and Viceroy (red, blue) brands was raised to EGP 31, each,
It is worth noting that during the first nine months (9M) of FY21/22, Eastern Company recorded EGP 4.25 billion in its unaudited net profits, an annual hike of 9% from EGP 3.88 billion.