Eastern Tobacco announced in a statement to the Egyptian Stock Exchange on Sunday that Chief Executive Officer Hani Aman expects revenue growth of 20% through increased exports and increased domestic sales.
This comes as confirmation of statements made by Al-Mal in last Wednesday's edition entitled "Eastern Tobacco Industry" expects a 20% increase in revenue this year.
In a statement to Al-Mal, the Managing Director confirmed that the company was willing to compensate for the decline in first-quarter earnings, pointing out that there would be a strong increase in second quarter earnings.
The CEO said an ambitious plan to achieve exports at $ 20 million a year by preparing sufficient studies to penetrate new markets that account for 50% of the United Nations within two years.
The company recorded a profit of £ 991,18 million during the three months ended September 2018, compared with a gain of £ 1,04 billion in the corresponding quarter of the previous year.
Company revenue during the period amounted to LE3.3 billion compared to LEE 3.17 billion in the corresponding quarter of the previous year.
The company posted a profit of LE 4.2 billion in July 2017 to June 2018, compared with a profit of 2.9 billion LE in the previous year.