Government's cigarette tax revenue to reach EGP42bn this year
The recent increase in cigarette prices will raise the government’s cigarette sales tax revenue to EGP42bn in FY16/17 from EGP30.9bn in FY15/16 assuming sales volumes remain the same, said Eastern Company’s Chairman. (Mubasher) Eastern Company: EGP224.01 as of 08 September 2016, Rating: Buy, FV: EGP310.00 per share, MCap: USD1,261mn, EAST EY / EAST.CA
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