Eastern raises Cleopatra Black prices to EGP19/pack
Eastern Co. (EAST.CA) has raised prices for its Cleopatra Black brand to EGP19 from EGP16/per pack, an 18.7% increase, post the implementation of the new VAT tax. The company has also noted that all of its other brands increased in prices between 12.5-25%, as a result of the new tax.
Eastern Company: EGP375.02 as of 26 Nov. 2017, Rating: Buy, TP: EGP408.00/share, MCap: USD2,128mn, EAST EY/EAST.CA
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