Cairo – Mubasher: Eastern Company generated net profits amounting to EGP 1.82 billion in the first quarter (Q1) of fiscal year (FY) 2024/2025, up 62% from EGP 1.12 billion in Q1-23/24.
Total revenues before tax amounted to EGP 23.91 billion in Q1-24/25, higher by 132% year-on-year (YoY) than EGP 10.28 billion, according to the financial results.
Net revenues also recorded a significant annual increase of 162% YoY to EGP 8 billion as of 30 September 2024, compared to EGP 3 billion.
The higher revenues were driven by a 70% YoY increase in local sales volumes during this quarter, with the local cigarette sector recording about 13.40 billion cigarettes.
In FY23/24, Eastern Company posted 17% higher net profits before tax at EGP 11.46 billion, compared to EGP 9.76 billion in FY22/23.
