37.5 billion EGP.. Cigarette sales in Egypt within 6 months

The financial statements of the Eastern Smoke Company “Eastern Company” revealed the results of the six months ending in December 2022.

“Eastern Company” achieved sales of 37.5 billion pounds, compared to 34.2 billion pounds in the same comparative period of the previous year, with a sales growth rate of 9%.

Company revenues

Eastern Company revenues amounted to 9.9 billion pounds, compared to 8.5 billion pounds in the same period last year.

It achieved an increase of 16% on an annual basis, as a result of the increase in the values of local cigarette sales, in addition to the increase in the joint production sales sector by 33% on an annual basis.

The company's financial statements showed a total profit of EGP 4.9 billion, an increase of 27% on an annual basis, compared to EGP 3.8 billion last year.

Net profit

The company recorded a net profit of EGP 3.4bn, an increase of 19% year-on-year, compared to EGP 2.9bn in the previous period.

The company confirmed that good indicators were recorded during that period, while it is difficult to achieve these indicators during the coming period. Due to several challenges, the most prominent of which is the continuous increase in the costs of production inputs with the rise in various production costs.

Increase in total sales

The company noted that the second quarter witnessed an increase in total sales by 18% on an annual basis, compared to the same quarter of the previous year, to record 19.8 billion pounds, compared to 16.8 billion in the comparative quarter.

Revenues amounted to 5.3 billion pounds, compared to 4.2 billion pounds in the same quarter of the previous year, while net profit amounted to 2 billion pounds, compared to 1.3 billion pounds in the same previous period.