Cairo – Mubasher: The net profits after tax of Eastern Company hit EGP 1.12 billion in the first quarter (Q1) of fiscal year (FY) 2023/2024, down 20% year-on-year (YoY) from EGP 1.40 billion.
The EGX-listed firm posted a 32.50% drop in revenue to EGP 3.12 billion during the three-month period that ended on 30 September 2023, versus EGP 4.62 billion
Basic earnings per share (EPS) stood at EGP 0.39 in Q1-23/24, an annual plunge of 32.80% from EGP 0.58, according to the income statements.
In FY22/23, Eastern Company logged net profit after tax valued at EGP 7.65 billion, higher by 90% YoY than EGP 4.03 billion.
Sales increased by 5% to EGP 17.95 billion in the July 2022- June 2023 period from EGP 17.13 billion in FY21/22, while the EPS surged by 85% to EGP 2.98 from EGP 1.61.
