Eastern Tobacco (EAST) disclosed its earnings for the financial year ending in 2022/2023, showcasing a substantial increase in net income by an impressive 90% year-on-year. The company's net income soared to EGP 7.7 billion compared to EGP 4 billion recorded in the previous fiscal year of 2021/2022, the share prices increased around +4% by the first 5 min of the trading session reaching EGP22.90/ share.
Earnings per Share (EPS) witnessed a significant rise, reaching EGP 2.98 per share, a considerable improvement from the previous year's figure of EGP 1.61 per share.
Furthermore, the Board of Directors (BOD) of EAST has recommended a dividend payout of EGP 3.75 per share, which will be presented for approval at the upcoming Ordinary General Meeting (OGM). This proposal reflects the company's commitment to providing returns to its shareholders.
Eastern Tobacco's outstanding financial performance in FY 2022/2023 demonstrates its resilience and ability to achieve substantial growth in a challenging economic environment.
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