Eastern Co. to add LE 57.5B to Egypt’s treasury in 2018/19

CAIRO – 15 February 2018: Eastern Company SAE (EAST) said Thursday that its draft budget for fiscal year 2018/2019 targets to import LE 57.5 billion to Egypt’s public treasury, compared to LE 49.7 million in 2017/2018, with an increase of 16 percent.

Eastern company added in a statement to the Egyptian Exchange that it aims at increasing the upcoming fiscal year’s net profit by 132 percent to reach LE 3.25 billion, compared to LE 1.4 billion in the draft budget of 2017/2018.

In January, Eastern Company announced that its net profit in H1 of 2017/2018 soared 160.84 percent to record LE 2.32 billion, after taxes.

Eastern Company is a public company, listed on the Egyptian Exchange (EGX) since September 1995. It operates within the Food, Beverage and Tobacco sector focusing on Tobacco. Eastern Company is based in Giza, Egypt, and was established in July 1920.