Cairo – Mubasher: Eastern Company on Wednesday said that its annual profits rose 18.4% on the back of increasing sales.
The company achieved EGP 1.74 billion from July 2016 to June 2017, compared to EGP 1.47 billion in the same period in the year before, according to a statement to the Egyptian Exchange (EGX).
Eastern Company’s sales surged 38% to EGP 10.54 billion in the fiscal year ended in June 2017, from EGP 7.65 billion in the previous fiscal year.
Profits amounted to EGP 450 million in the three-month period ended in March 2017, compared to EGP 271 million in the corresponding period in the year earlier.
By 10:30 am Cairo time, Eastern Company’s stock remained stable at EGP 310.
