Cairo – Mubasher: Eastern Co is looking to raise its revenue by 20% within the framework of its budget scheme for fiscal year 2018/2019.
Revenues are likely to surge on the back of the increase in exports, as well as the increase in local sales, the tobacco producer said in a statement to the Egyptian Exchange (EGX) on Sunday.
The EGX-listed firm previously announced it aims to boost its imports to the country’s public treasury by 16% year-on-year.
It is worth noting that Eastern Co reported a 5% year-on-year decline in its net profits during the first quarter of FY18/19, recording EGP 991.18 million, compared to EGP 1.04 billion.
The company’s revenues rose to EGP 3.3 billion in the three-month period ended September, compared to EGP 3.17 billion in Q1-17/18.
