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Eastern Tobacco achieved the highest revenue in the company's history during the second quarter



The Eastern Company achieved the highest revenue in the history of a company during the second quarter of the fiscal year 2020/2021, and amounted to 4.211 billion pounds in the second quarter ending on December 31 of 2020, with a growth rate of 6% on an annual basis, and an increase of 6.5% on the basis of Quarterly, which was reflected in the net profit, which amounted to 1.375 billion pounds, with a growth rate of 19% on an annual basis, and 18% on a quarterly basis.

 

The financial results of the Eastern-Eastern Company revealed to the Egyptian Stock Exchange that the total profit expanded by 10% on an annual basis, and 14% on a quarterly basis, to record 1.830 billion pounds, and the profitability was supported by the company's efforts to raise the efficiency of production and sales and reach levels Recorded in sales volumes, revenue increases, and stable cost of direct materials, gross profit margin of 43% for the quarter was recorded.

 

The company attributed the reason for the revenue growth in the second quarter by 6% compared to the same quarter of the previous year, first, to an improvement in domestic cigarette sales to reach 3.328 billion pounds, an increase of 10% year-on-year due to an increase in the volume of domestic sales by 1385 million cigarettes over the second quarter of the year The previous one recorded a record high in this quarter of 17.459 billion cigarettes compared to 16.074 billion cigarettes in the same quarter, an increase of 8.6%. Second, the indirect increase in prices by reducing the margins of retail trade from one pound to 0.25 pounds for a package containing 10 boxes of brands The company's flagship as of December 1, 2020, along with the improvement in the sales mix in terms of higher volumes in the volumes of domestic cigar sales at a rate of 44% year-on-year compared to the corresponding period.

 

The company added that the high sales volumes for this quarter also supported an increase in the volume of sales of the joint production sector by 33%, and at the same time the operating fees for others increased by 8% on a quarterly basis compared to the first quarter of 2020, while manufacturing fees for others decreased in this quarter by an amount 11% on an annual basis, to reach 651 million pounds, compared to 729 million pounds for the second quarter of the previous year, and on a quarterly basis, total revenues increased by 6.5%, and on a 6-month basis, revenues were recorded at 8.166 billion pounds, an increase of 6% over the corresponding period of the previous year.

 

Hani Aman, Managing Director and CEO of the Eastern Company, attributed the reason for the company to achieve the highest revenues ever due to reaching record levels of sales and production, which reflects the company's adoption of successful and effective strategies to raise operational efficiency, improve and raise growth rates that are sustainable and stable on All levels, and within the framework of the company's business development model

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