{"id":632236,"date":"2018-02-06T04:13:37","date_gmt":"2018-02-06T04:13:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/"},"modified":"2018-02-06T04:13:37","modified_gmt":"2018-02-06T04:13:37","slug":"egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/","title":{"rendered":"Egypt\u2019s love for cigarettes has helped Eastern Tobacco\u2019s revenues grow?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Just how much do Egyptians love their cigarettes? A whole lot.<\/strong> The Eastern Tobacco Co. has seen its share price climb around 373% since the EGP was floated in November 2016, hitting \u201csuccessive record highs, in both USD and local-currency terms,\u201d after it posted a 161% y-o-y increase in its profits for 1H2017-18. \u201cThe increase in profits is mainly due to pricing,\u201d CI Capital\u2019s head of consumer and healthcare research, Khaled Sadek, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-02-05\/this-stock-is-proof-of-how-much-egyptians-love-their-cigarettes\">tells Bloomberg<\/a>. \u201cThey raised their ex-factory prices by about 40% compared to last year and they still have a big part of their inventory of raw tobacco from before the currency float which makes the cost low for them and the margins higher.\u201d Eastern Co. is valued at USD 2.7 bn, making it Egypt\u2019s second-largest listed company.<\/p>\n<p><strong>The surge in cigarette prices has had a muted impact on demand. <\/strong>\u201cPeople don\u2019t stop smoking,\u201d explain HC Brokerage\u2019s Ahmed Hafez. \u201cWhat happens usually is that they cut the number of cigarettes they smoke per day, and then they usually divert to the normal habits again.\u201d<\/p>\n<p><strong>WHO data shows that around 50% of Egyptian males over 15 years old are smokers.<\/strong> Projections put the figure at 63% by 2020, which is higher than other regional estimates, including those for Lebanon, Saudi, and Morocco.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just how much do Egyptians love their cigarettes? A whole lot. The Eastern Tobacco Co. has seen its share price climb around 373% since the EGP was floated in November 2016, hitting \u201csuccessive record highs, in both USD and local-currency terms,\u201d after it posted a 161% y-o-y increase in its profits for 1H2017-18. \u201cThe increase [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-632236","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5925a75f-308e-4deb-9fe2-59b58c19e8ca","order":"0","is_powered_by":true,"section_story_id":"d70394af-fd7e-4731-983f-4516b6f0e4f4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[632222],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s love for cigarettes has helped Eastern Tobacco\u2019s revenues grow? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s love for cigarettes has helped Eastern Tobacco\u2019s revenues grow?\" \/>\n<meta property=\"og:description\" content=\"Just how much do Egyptians love their cigarettes? A whole lot. The Eastern Tobacco Co. has seen its share price climb around 373% since the EGP was floated in November 2016, hitting \u201csuccessive record highs, in both USD and local-currency terms,\u201d after it posted a 161% y-o-y increase in its profits for 1H2017-18. \u201cThe increase [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-06T04:13:37+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s love for cigarettes has helped Eastern Tobacco\u2019s revenues grow?\",\"datePublished\":\"2018-02-06T04:13:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/\"},\"wordCount\":220,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/egypts-love-for-cigarettes-has-helped-eastern-tobaccos-revenues-grow\/\",\"name\":\"Egypt\u2019s love for cigarettes has helped Eastern Tobacco\u2019s revenues grow? 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The\u2026","rel":"","context":"In &quot;SPEED ROUND: COMPETITION WATCH&quot;","block_context":{"text":"SPEED ROUND: COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/507.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601445,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/28\/eastern-renews-contracts-with-bat-mansour-to-jointly-produce-cigarettes-in-egypt\/","url_meta":{"origin":632236,"position":1},"title":"Eastern renews contracts with BAT, Mansour to jointly produce cigarettes in Egypt","author":"enterpriseam admin","date":"28 February 2019","format":false,"excerpt":"Eastern renews joint production contracts with BAT, Mansour: State-owned Eastern Company inked two five-year renewals of its joint production agreements with British American Tobacco (BAT) and Mansour International Distribution Co, according to an EGX disclosure (pdf). Under the agreement Eastern manufactures foreign \u201cTarget\u201d cigarettes in partnership with Mansour, and \u201cPall\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546811,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/eastern-to-acquire-24-of-egypts-second-tobacco-manufacturer\/","url_meta":{"origin":632236,"position":2},"title":"Eastern to acquire 24% of Egypt\u2019s second tobacco manufacturer","author":"enterpriseam admin","date":"30 May 2022","format":false,"excerpt":"It\u2019s official: Eastern will acquire a quarter of Egypt\u2019s second tobacco manufacturer after the company\u2019s general assembly approved the EGP 100 mn purchase of a 24% stake in Philip Morris\u2019 United Tobacco, according to a disclosure to the EGX(pdf). 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Revenues were up\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=632236"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632236\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/632222"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=632236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=632236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=632236"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=632236"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=632236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}