CAIRO: The Eastern Tobacco Company announced a LE 0.25 increase per pack of some of its products.
“This increase is due to the rise in the prices of the products’ raw material. The previous price increase was not in our benefit, it was all paid in taxes, an official at Eastern Tobacco Company told Daily News Egypt on condition of anonymity.
Those products include Cleopatra Box, New Cleopatra Lights, Boston, Light, Capitol, Super Star, Belmont and Golden King, the official said.
The new prices went into effect starting Monday Sept. 1.
The Eastern Tobacco Company, Egypt s only cigarette maker, reported an 8 percent rise in net profit for the 2007/2008 financial year on Monday to LE 751 million, the company said in a statement, compared to a net profit of LE 696 million the previous year.
The Eastern Tobacco Company’s stock market shares closed on LE 294.02 in its latest exchange on Aug. 28.
