BAT Bangladesh sells Tk22,339cr cigarettes in Jan-Jun
- Revenue rose by 5% to Tk22,339cr
- Profit fell by 2.56% to Tk925cr
- EPS stood at Tk17.14
- Shares closed at Tk409.80
British American Tobacco Bangladesh Company (BATBC) has earned Tk22,339 crore in revenue from cigarette sales in the first half of this year, a 5% increase compared to the same period last year.
In the January-June period, the multinational tobacco product manufacturer sold 3,823 crore sticks of cigarettes, which was 2.22% lower than the previous year.
However, the company had to pay off Tk18,360 crore from its revenue to the government exchequer as supplementary duty, VAT, and income tax.
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At the end of the first half of this year, it posted a profit of Tk925 crore, which was 2.56% lower than a year ago. At the end of June this year, its earnings per share (EPS) stood at Tk17.14.
In the price-sensitive statement filed on its website, the multinational company said profit decreased from the same period last year driven by lower leaf export.
Meanwhile, during the April-June quarter of this year, its revenue witnessed a 14% year-on-year increase to Tk12,932 crore and net profit rose by 3.85% to Tk512 crore.
Earlier, the company had paid a 100% cash dividend for the year 2023, marking the lowest rate in over a decade.
It reported a profit of Tk1,788 crore in 2023, a nominal increase from Tk1,787 crore in 2022. Despite the similar profit, the dividend payout represents only 30% of the last year's total profit. This marks a significant decrease from the 200% cash dividend payout in 2022.
While dividend data for BAT Bangladesh was not available before 2010, the company was known for announcing generous dividends over the years.
The cigarette manufacturer operates factories in Dhaka and Savar, along with a green leaf threshing plant in Kushtia and a green leaf re-drying plant in Manikganj.
Over the past three years, the company has invested more than Tk1,200 crore in various phases to enhance its production capacity and meet the growing demand.
Its share closed at Tk409.80 last Thursday at the Dhaka Stock Exchange, marking a 27% increase this month.
