Arab Finance: Eastern Company (EAST) reported a 2.24% year-on-year (YoY) decrease in net profit for the nine-month period ended March 31st, according to the company’s financial results filed to the Egyptian Exchange (EGX) on May 30^th.

The company’s net profit stood at EGP 5.172 billion during the first nine months of fiscal year (FY) 2023/2024, compared to a profit of EGP 5.290 billion in the FY-ago period.

Net revenue declined to EGP 13.716 billion in the nine-month period ended March 31st from EGP 14.497 billion.

Eastern Company is an Egypt-based company, which is engaged in manufacturing tobacco products.

The company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarette filter rods and homogenized tobacco.

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