Eastern Co (EML.OQ)
26 May 2017
Wed, May 17 2017
* To produce cigarettes for Philip Morris at $5.8 per 1,000 cigarettes upto less than 15 billion cigarettes
* Reports first quarter sales increase of 9% and earnings of $0.24 per share versus $0.10 per share in the first quarter of 2016
* To launch new cigarette brand 'cleopatra box gold' at a consumer price of EGP 12.75 Source: (http://bit.ly/2oOHsUw) Further company coverage: )
* Says needs upto $300 million per annum to buy raw materials and spare parts Source:(http://bit.ly/2oQZng7) Further company coverage:
* Eastern CO - deal for $39.5 million plus future earnout based on growth of velvac's road-iq(tm) business
* Sees 2017-18 net profit after tax EGP 1.40 billion Source: (http://bit.ly/2nFFbuC) Further company coverage: )
CAIRO Egypt's top cigarette maker Eastern Company said on Thursday it had reached an agreement with its international partner Philip Morris for the tobacco giant to pay back outstanding debt and make future payments in the local currency.
CAIRO, March 1 Egypt's top cigarette maker Eastern Company said on Wednesday it had reached an agreement with its international partner Philip Morris for the tobacco giant to pay back outstanding debt and make future payments in the local currency.
* Eastern Co- sales for quarter were $34.1 million, compared to $34.4 million for same period in 2015
* H1 net profit EGP 890.4 million versus EGP 809.2 million year ago
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