This came after the government intervened to solve the problem of the shortage of cigarettes and the doubling of their prices in the market. Aman told Daily News Egypt that the company has already begun to raise production in preparation for increasing distribution rates to contractors registered with the regulatory bodies. He stressed that the regulatory agencies are constantly communicating to solve the crisis, and take the necessary measures to maintain the price of cigarettes for the consumer. Eastern Company achieved total revenues of EGP 54.827bn for the nine-month period ending in March 2023, compared to EGP 51.466bn in the same period of the last fiscal year. Net sales amounted to EGP 14.609bn, compared to EGP 12.781bn in the same comparison period, with a growth rate of 14%, while the gross profit margin reached about 47%, compared to 45% during the comparison period.

Source: Daily News Egypt August 16, 2023 15:39 UTC