Eastern Co. of Egypt achieved record sales and production volumes in fiscal 2020-2021, reports Daily News Egypt.
The company manufactured about 70 billion local cigarettes, 16 percent more than in its previous fiscal year. Sales increased by 12 percent to 67 billion cigarettes 2020-2021.
Eastern Co. also recorded a net income of EGP16 billion ($1.02 billion) in 2020-2021, compared to EGP14.5 billion in 2019-2020. Profits totaled EGP4.28 billion, up from the EGP 3.79 billion in the previous year.
The company is also exploring the sale reduced-risk smoking products in Egypt.
In an Oct. 17 statement to the Egyptian Exchange, Eastern Co. said it had examined the potential consumption and demand for such products in the local market.