Cairo – Mubasher: Eastern Company recorded 90% year-on-year (YoY) higher net profits after tax at EGP 7.65 billion during fiscal year (FY) 2022/2023, compared to EGP 4.03 billion.
The revenues stood at EGP 17.95 billion as of 30 June 2023, up 5% from EGP 17.13 billion in FY21/22, according to the financial statements.
Basic earnings per share (EPS) hiked by 85% YoY to EGP 2.98 in FY22/23 from EGP 1.61.
Dividends
The company’s board members recommended a cash dividend distribution of EGP 3.75 per share for the 12-month period that ended on 30 June 2023.
Meanwhile, the dividends proposal is still subject to the approval of the ordinary general meeting (OGM).
In the July 2022 - March 2023 period, Eastern Company achieved net profits after tax amounting to EGP 5.29 billion, higher by 24% YoY than EGP 4.25 billion.
Earlier this month, UAE-based Global Investment Holding Limited purchased a 30% shareholding in the EGX-listed firm for $625 million.
