Tue, 23 Mar 2021 - 11:19 GMT
FILE - Cigarettes
CAIRO – 15 March 2021: Eastern Company is currently studying smoking alternatives as electronic cigarettes, which studies have shown that there is a good possibility of a demand for it as a less dangerous alternative to traditional cigarettes.
The company added, in a statement to the Egyptian Exchange (EGX), that it is studying the production of these alternatives in terms of the ability of their consumers to use them.
It added that it is also conducting consultations with manufacturers of electronic cigarettes in preparation for putting them on the market after obtaining the necessary licenses for that from the competent authorities.
This comes in accordance with the company's strategy to expand and diversify its products, and within the framework of the company to develop its products and prepare for the future, according to the statement.
Earlier in March, Eastern Company announced that it is studying several new investment projects that will enhance its position in the field of smoking and tobacco alternatives.
On another note, the company recorded an increase in its profits during the first seven months of the fiscal year 2020/2021 by 17 percent, to reach LE 2.95 billion, compared to LE 2.52 billion during fiscal year of 2019/2020.
The company said that the revenues amounted to LE 37.7 billion during January-to-July period current fiscal year, compared to LE 33.7 billion in the same period of last fiscal year.
Eastern Co. operates within the food, beverage and tobacco sector focusing on tobacco. It was established in July 1920.