Cigarette maker Eastern Company posted a 2.6 percent rise in net profit to LE 851.9 million ($150 million) for the year to end-June, helped by a late scramble to avoid a sales tax. Brokerage CI Capital had forecast net profit of LE 848 million for the cigarette monopoly, which also makes higher-margin brands for multinationals such as British American Tobacco and Philip Morris. "The increase is due to strong earnings growth in the fourth quarter ... as consumers stockpiled in anticipation of higher cigarette prices," Ingy El-Diwany of CI Capital said. The government implemented a new sales tax on cigarettes for fiscal year 2010-2011, raising the prices of local and foreign brands. Egypt's fiscal year starts July 1. "Last year in the fourth quarter there was also a LE 30 million provisions expense (for Eastern) over tax disputes, versus nil for this quarter," El Diwany added.