Eastern Company

Egyptian cigarette maker raises prices of some tobacco products

Mon, 02 Mar 2020 - 01:40 GMT

Egypt’s top cigarette maker told the Egyptian Bourse its decision to officially raise the selling price for some products of the state-owned company, including molasses (mu’assel) and minced tobacco, by a range of LE 0.5 ($0.032) to LE 3 ($0.19).

Eastern Company targets LE1.14B investments during 2019/20

Wed, 27 Mar 2019 - 09:49 GMT

The company said it targets projects worth LE 25 million during the next financial year, compared to targeted projects of LE 50 million in the current fiscal year.

Eastern Co.’s offering on EGX amounts to LE 1.72B

Wed, 06 Mar 2019 - 02:57 GMT

EGX clarified in a filing that the public offering registered LE76.06 million through 5.06 million shares, and the private offering amounted to LE 1.6 billion through 96.18 million shares.

Eastern Co.’s public offering starts Sunday

Sun, 03 Mar 2019 - 10:54 GMT

The private offering of the cigarette company was oversubscribed by 1.8 times at price of LE 17 which exceeds the company’s share price on Thursday by 3 percent.

Egypt's Eastern Co private share offer oversubscribed - state media

Fri, 01 Mar 2019 - 11:20 GMT

A private offer for shares in Egypt’s top cigarette maker Eastern Company SAE was covered 1.8 times at 17 Egyptian pounds ($0.9737) per share.

Philip Morris’s 'unjust' deal leaves Eastern Tobacco Company LE 200M short

Wed, 27 Feb 2019 - 12:05 GMT

The Eastern Company was pressured by PMI to settle to $5.8 as the manufacturing fees of 1,000 cigarettes among Zero to 15 billion cigarettes.

Philip Morris ugly face unveiled.. Egypt Parliament to probe into the giant tobacco market violations

Mon, 25 Feb 2019 - 10:21 GMT

Members of the Egyptian Parliament are preparing to launch a thorough investigation into the activities of Philip Morris Misr LLC.P

Egypt to float 4.5% of Eastern Co. on EGX in March

Sun, 24 Feb 2019 - 10:19 GMT

Egypt will float new stake of Eastern Company on the Egyptian Exchange (EGX) in March, to be the first to be offered of the government’s initial public offering program.

Eastern Company anticipates 20% hike in revenues

Sun, 18 Nov 2018 - 02:33 GMT

In a filing to the EGX, the company, headed by Managing Director Hany Aman, explained that it anticipates that the increase will come through hike in exports and local sales.

Delayed state offering stalls Egypt's surging share sales

Tue, 23 Oct 2018 - 12:16 GMT

Egypt hopes the sales will raise badly needed funds for the state and boost the private sector as the country implements austerity measures backed by the International Monetary Fund and struggles to contain inflation and debt.

Egypt to float an additional stake of Eastern Co. on EGX

Thu, 06 Sep 2018 - 10:04 GMT

The minister expected the yields of the offering to reach LE 2 billion, noting that the timing of the offering will be determined in cooperation with EFG Hermes, the advisor of the offering.

Eastern Co. marks profits of LE 4.2B in 2017/18

Wed, 25 Jul 2018 - 01:10 GMT

The board of directors of the company approved the splitting of its stock to be valued at LE 0.50 instead of LE 5.

Offering of Eastern Co. on EGX to occur after Eid Al-Fitr: Minister

Tue, 12 Jun 2018 - 11:42 GMT

Badawi expected that Alexandria Container and Cargo Handling Co (ALCN) will be the second public company to be listed on EGX.

Chemical Industries to offer 4% of Eastern Co. on EGX

Tue, 03 Apr 2018 - 09:08 GMT

Chemical Industries Chief Executive Officer expected the offering of the shares to take place during the current year.

Eastern Co. to add LE 57.5B to Egypt’s treasury in 2018/19

Thu, 15 Feb 2018 - 11:13 GMT

Eastern Company SAE (EAST) said Thursday that its draft budget for fiscal year 2018/2019 targets to import LE 57.5 billion to Egypt’s public treasury.

Eastern Company’s profits soar 161% in H1 of 2017/18

Tue, 30 Jan 2018 - 11:52 GMT

The release showed that EAST achieved profits of LE 2.32 billion, after taxes, up from LE 890.4 million in H1 of 2016/2017.

Business news wrap-up

Thu, 23 Nov 2017 - 05:06 GMT

A wrap-up for the most prominent business news of the day.

Eastern Company issues new cigarette prices

Thu, 23 Nov 2017 - 01:56 GMT

The prices of cigarettes will increase by LE 2-3 per pack according to the new amendments.

Eastern Company pays LE 42B taxes for FY 2016/17

Wed, 16 Aug 2017 - 10:49 GMT

Eastern Company’s net profit rose 17.8 percent to stand at LE 1.7 billion ($94.8 million) in the fiscal year of 2016/2017.

Eastern Co posts LE 1.7B profit in FY16/17

Wed, 26 Jul 2017 - 10:39 GMT

Eastern Company’s net profit rose 17.8 percent to LE 1.7 billion ($94.8 million) in the fiscal year of 2016/17 compared to LE 1.47 billion in the year-ago period.