BAT ends no profits misery
Sep 02, 2007
BRITISH American Tobacco returned to profitability after four years of loss-making to register a sh31m after tax profit during the first half of 2007.
By Peter Kaujju
BRITISH American Tobacco returned to profitability after four years of loss-making to register a sh31m after tax profit during the first half of 2007.
The directors did not, however, recommend any dividend payout for the fourth year-running.
The company’s gross turnover to June 30, stood at sh106.8b, up from sh75.4b in June 2006.
According to the company, its leaf export volumes grew by 43% during the period.
“Cigarette sales volumes grew by 15% during the first half of 2007.
“This volume growth was largely due to improved distribution efficiency as well as the Government’s continued achievements in curbing illicit trade,†said Isaac Ampire, the company secretary.
However, the strong shilling, that touched its best of 1,600 against the dollar during peak shipment of tobacco, affected the earning.
BAT’s shares were oversubscribed by 5% when the company was listed on the Uganda Securities Exchange in 2000.
The shares sold at sh1,000 during the initial public offering. They hit sh1,200 before plummeting to the sh300 today.
BRITISH American Tobacco returned to profitability after four years of loss-making to register a sh31m after tax profit during the first half of 2007.
The directors did not, however, recommend any dividend payout for the fourth year-running.
The company’s gross turnover to June 30, stood at sh106.8b, up from sh75.4b in June 2006.
According to the company, its leaf export volumes grew by 43% during the period.
“Cigarette sales volumes grew by 15% during the first half of 2007.
“This volume growth was largely due to improved distribution efficiency as well as the Government’s continued achievements in curbing illicit trade,†said Isaac Ampire, the company secretary.
However, the strong shilling, that touched its best of 1,600 against the dollar during peak shipment of tobacco, affected the earning.
BAT’s shares were oversubscribed by 5% when the company was listed on the Uganda Securities Exchange in 2000.
The shares sold at sh1,000 during the initial public offering. They hit sh1,200 before plummeting to the sh300 today.