The Eastern Tobacco Company posted a 2.4 percent net income increase in the financial year of 2002, which ended June 31, reaching 280 million Egyptian pounds ($60 million) compared to EP 273.6 million in 2001.
The company's cost of goods sold dropped to 77.8 percent from 75.5 percent in the financial year of 2001. Interest income increased by 81 percent to reach EP 6.2 million compared to EP 3.4 million in 2001.
Egyptians consumed 1.68 billion Egyptian pounds ($362 million) worth of cigarettes from July 2001 to March 2002, EP 95 million more than figures from the same period in the previous year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
