File Photo: Cigarettes are seen during the manufacturing process Reuters
The Cleopatra Box (10 cigarettes) is now priced at EGP 15, while a pack of Cleopatra King Size costs EGP 23 and a pack of Viceroy and Pall Mall cigarettes is now priced at EGP 33.
The prices for Cleopatra Soft Queen, Boston/Belmont, Cleopatra Box (white, black, and colored), Cleopatra Mondial Switch, and Matossian cigarettes have all increased to EGP 24.
This is the first price increase for the company in 2023, following two increases in September, and March of 2022.
Established in 1920, the Eastern Company is Egypt's largest producer of tobacco.
In September of last year, the company's decades-old monopoly on cigarette manufacturing came to an end when the United Tobacco Company (UTC), a subsidiary of the American multinational tobacco giant Philip Morris International (PMI), began manufacturing cigarettes in the Egyptian market.
Eastern Company's revenues grew by six percent in FY2021/2022, posting EGP 67.9 billion, up from EGP 63.8 billion in FY2020/2021