Eastern Company (EAST.CA) is looking to raise it export revenue by c7% to EGP75 million in FY2016/17, as per its budget, by exporting a total of 348 million cigarettes and 1,656 tonnes of flavoured tobacco to Tanzania and Zimbabwe (the figure amounts to less than 1% of total revenue). In return, the company is in talks to import raw tobacco from those destinations in exchange, so as to mitigate the current foreign currency condition. The company recently announced a potential negative impact on its purchase costs to the tune of cEGP400 million from the EGP devaluation, said Chairman Mohamed Haroun. At the company’s AGM, shareholders advised the board to continue pushing for domestically grown tobacco. On another note, Eastern aims to pump EGP808 million of investments in FY2016/17 that include cEGP134 million for upgrades to the industrial complex in Sixth of October City , as well as developing its vacated land (EGP20 million). (Al Borsa, Al Mal)   Eastern Company: EGP190.99 as of 19 April 2016, Rating: Buy, FV: EGP310.00 per share, MCap: USD1,075 million, EAST EY / EAST.CA