Wednesday 13/November/2024 – 09:49 AM
The Eastern Tobacco Company, Eastern Company, said that it achieved significant sales For cigarettes In the first quarter of the financial year 2024-25, significantly reflects the company’s strategy towards achieving sustainable growth.
According to a disclosure sent to the Egyptian Stock Exchange today, Wednesday, November 13, sales increased by 70% on an annual basis, with the local cigarette sector recording about 13.4 billion cigarettes in the first quarter, compared to 7.8 billion cigarettes in the comparative quarter, and also an increase in volumes for the same sector by 21% on an annual basis. Quarterly.
Record total sales in the first quarter
According to official business results, the company recorded record total sales in the first quarter before taxes, amounting to 24 billion pounds, compared to 10 billion pounds compared to the same quarter of the previous year, with a record annual increase of 132%, and a quarterly increase of 22% over the previous fourth quarter.
Net revenues also recorded a significant annual record increase of +162% on an annual basis, reaching 8 billion pounds in this quarter, compared to 3 billion pounds in the same quarter of the previous year, and a quarterly increase of 21% on a quarterly basis.
Hani Aman, CEO and Managing Director of Eastern Tobacco Company, revealed that there has been a slight increase in the prices of Eastern Tobacco cigarettes.
Increase in cigarette prices
The CEO and Managing Director of the Eastern Tobacco Company, Eastern Company, said in exclusive statements to Cairo 24 that the Board of Directors approved a slight increase in the selling prices of cigarette products in the Egyptian market, to take the citizen into account.
The Eastern Tobacco Company raised cigarette prices several times during the current year, 2024, despite the availability of raw materials, the dollar, and import capabilities. Last July, the Board of Directors of the Eastern Tobacco Company, Eastern Company, approved a price list at the selling price to the consumer on the Eastern Company’s cigarette products, and it was implemented starting from today. Friday, July 12, 2024.
