Egypt’s Eastern reports 17% growth in full-year income

July 23, 2014 6:57 am

Egyptian cigarette maker, Eastern Co has said its net profit in the year to June 30 grew 17.1% on the back of stronger sales, Reuters has reported. Eastern’s full-year sales boost helped the company to reach a net profit of EGP883.2m, up from EGP754.4m a year earlier. The company, which has a monopoly on producing cigarettes in the country of 86 million people, lifted sales by 13$ to EGP6.2bn ($867m).