Eastern Company has conducted necessary studies to manufacture reduced-risk smoking products in Egypt.
The company said, in a statement to the Egyptian Exchange on Sunday, that this study mainly examines the potential domestic consumption and demand in the local market.
Eastern Company achieved record sales and production volumes in fiscal year (FY) 2020/21.
The company produced about 70 billion local cigarettes in FY 2020/21, with an annual growth of 16%. It sold 67 billion cigarettes in FY 2020/21, with an annual growth of 12%.
Eastern Company also recorded a net income of EGP 16bn in FY 2020/21, compared to the EGP 14.5bn in FY 2019/20, with a growth of 11%. It achieved profits of EGP 4.28bn in FY 2020/21, up from the EGP 3.79bn in FY 2019/20.