Eastern Co. (EAST.CA) announced that it had raised the retail price for its Cleopatra Box Red and Blue (c2% of EC volumes sold) to EGP12.75 from EGP12.00, effective 22 March 2017. The increase implies a 24% increase in ex-factory price for EC to EGP3.03/pack (assuming no changes to retailer margin of EGP0.3/pack). In February 2017, the company had raised the retail price for key brand Cleopatra Box White (c35% of EC volumes sold, main contributor in the box series) to EGP12.75 from EGP12.00, effective 14 Feb 2017. The increase added cEGP390mn to top-line. The retail price was also raised for the Golden West brand (contribution to top-line less than 3%) to EGP15/pack from EGP14.5/pack. 

Eastern Company: EGP201.52 as of 23 Mar. 2017, Rating: Buy, TP: EGP280.00/share, MCap: USD1,113mn, EAST EY/EAST.CA