Eastern Company (EC) posted preliminary figures for 2Q2015/16, with earnings sustaining strong growth momentum, up 40% Y-o-Y jump (+17% sequentially) to EGP442 million, coming broadly in line with our forecast (-5%). Bottom-line growth was likely driven once more by margin expansion (last price increase was in February 2015, where key brands saw c9% revision in ex-factory price), as well as lower taxes (-14% Y-o-Y due to the application of a lower tax rate of 22.5%). Meanwhile, revenue growth improved to 16% Y-o-Y (versus 9% Y-o-Y increase in 1Q2015/16) coming in slightly ahead of our forecast (+6% versus estimate). Earnings increased 38% Y-o-Y in 1H2015/16 to EGP809 million. We will provide more analysis upon the release of full financials. We remain Buyers of Eastern Co (trailing P/E of 6x despite continued delivery of solid earnings growth).   Eastern Company: EGP151.65 as of 26 January 2016, Rating: Buy, FV: EGP295.00 per share, MCap: USD968 million, EAST EY / EAST.CA