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Eastern Tobacco's BoD oks profit decrease by 11% ending June 2019

Eastern Tobacco's BoD oks profit decrease by 11% ending June 2019

ArabFinance: Eastern Tobacco's (EAST) Board of Director (BoD) approved on July 30, 2019, the financial statements for the fiscal period ended June 30, 2019. 

According to the financial statements which were sent to the Egyptian Stock Exchange (EGX), the net income after taxes of Eastern Tobacco eased to EGP 3,768 billion compared to EGP 4.240 billion, representing 11.14% decline. 

It is worth mentioning that EC attributed the profit decline to several reasons, the most crucial ones are the decrease in the interest income by EGP 71 million, in credit interest by EGP 456 million and increase of losses in foreign exchange currency by EGP 106 million. 

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