Eastern Co revenues projected to rise LE 300M in FY17/18

CAIRO – 25 July 2017: Eastern Company’s revenues are expected to rise to LE 300 million ($16.7 million) in the fiscal year of 2017/18. The rise comes as a result of the price hikes of various other cigarette brands, a Tuesday statement said.

The company noted that the price increases are expected to cover a part of the production cost. In addition, they forecasted revenues of LE 12.2 billion in the estimated budget of the next fiscal year.

Earlier this month, Eastern Company

raised the price of three cigarette brands

from 4.2 – 17.6 percent (LE 0.50 – LE 2.25, $0.028 – $0.126).

The prices were increased as follows: Cleopatra King Size from LE 10.50 to LE 11.50, Cleopatra Queen soft pack from LE 12 to LE 12.50, and Cleopatra Super from 12.75 to LE 15.

The three brands are the most popular among the low-income class in Egypt.

The company raised the prices to curb the increase in the production costs, Eastern Co’s Chairman Mohamed Othman Haroun said.

Haroun added that the paper packs’ prices were increased amid the decrease in the stock imported at LE 9 per U.S. dollar, but the production necessities were imported at LE 18 per U.S. dollar.