Latest in Tag: Eastern Company Highlight
Latest in Tag: Eastern Company
New agreement has different conditions from previous one, says CEO of Eastern Company
Company records EGP 3.89bn net profit for nine-month period ending on 31 March 2021
Company’s net profit increases by 17% to EGP 2.95bn in same period
Egypt’s leading tobacco product manufacturer, the Eastern Company (EAST), has reported historic high records in its financial indicators for the second quarter (Q2) of fiscal year (FY) 2020/21.
Eastern Company upgrades its production facilities, increasing capacity to 250m cigarettes/day
The company said in a statement to the Egyptian Exchange (EGX), on Tuesday, that this rate constitutes an unprecedented record that it has not seen before.
Company is negotiating with international counterparts for partnership on heated tobacco products manufacturing
The company’s financial indicators also show that its profits increased marginally on an annual basis, reaching EGP 3.794bn during FY 2019/2020. This compared to the profits of EGP 3.733bn recorded in the previous fiscal year.
Company has raised prices of all its cigarettes and molasses tobacco products several times during past few years
Eastern Company new budget targets a top-line of EGP 15.9bn, a growth of 8.6% compared to FY 2020.
Lower costs, higher selling prices, and improved sales mix supported company’s business results
Expected y-o-y improvement driven by increase in sales, average ex-factory prices
The company said earlier that the cost of renewing and replacing machines and spare parts costs between EGP 700m and EGP 800m annually, especially as the company works on a monthly basis to renew machines and production lines.
Prices of the company’s products to increase by EGP 1 after the approval of new tax, says Fouad
Company started exporting molasses tobacco to UAE, Bahrain, Oman
Transaction was met with strong demand from global, regional, Egyptian investors
Public offering of company to start Sunday amid expectations of heavy demand
Firm surplus cash balance dropped by EGP 3bn to EGP 1.78bn
Transaction is scheduled to take place sometime between 21-25 October
NI Capital picks up EFG Hermes to manage offering, says Moeit
Company produced 62m cigarettes in last FY with a market share of 72%, says Haroun
Cigarette maker aims to pay EGP 57.5bn in taxes, compared to EGP 49.7bn in FY 2017/2018
Pharos expects company’s revenues to surge 13% in FY 2017/2018
The company expects to generate EGP 50m monthly after applying VAT
The increase is the result of the recently-increased prices of cigarettes
The government says the company raised the prices on its own accord without any intervention
Under the auspices of the Egyptian Chess Federation, presided over by Hesham El-Gendy, the Eastern Company organised and sponsored the Golden Cleopatra International Chess Championship, which was held from 13-21 December. This prestigious championship dates back to 1997. The championship took place at the Mundial Hall at the company’s club. The hall is the most …
Golden Cleopatra is an international chess championship, founded by Eastern Company in 1997