Egypt's Eastern eyes 3 pct export rise in 2010-11

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CAIRO: Egyptian cigarette monopoly Eastern Company said it planned to raise exports 3 percent to LE 62.1 million ($11.2 million) in its 2010-11 year.

Eastern, whose trademark brands include Cleopatra cigarettes and tobacco, also said in a statement on Monday it planned to raise local sales 3 percent to LE 10.1 billion in 2010-2011.

Eastern also makes higher-margin foreign brands for multinationals such as British American Tobacco and Philip Morris. Eastern posted unaudited nine-month net profit for the period ended March 2010 of LE 626 million.

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By Reuters
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