BAT Bangladesh Achieves Tk22,339 Crore In Cigarette Sales Revenue For First Half Of 20242 min read
In the first half of 2024, British American Tobacco Bangladesh Company (BATBC) generated Tk22,339 crore in revenue from cigarette sales, reflecting a 5% growth compared to the corresponding period in the previous year.
From January to June, the company sold 3,823 crore sticks of cigarettes, representing a slight decrease of 2.22% from last year’s figures. Despite this dip in sales volume, the company successfully increased its overall revenue.
A significant portion of BATBC’s revenue, Tk18,360 crore, was paid to the government as supplementary duty, VAT, and income tax.
The company’s profit for the first half of 2024 amounted to Tk925 crore, which is a 2.56% decline from the previous year. At the close of June, the earnings per share (EPS) stood at Tk17.14.
BATBC noted in a statement that the reduced profit was largely due to a drop in leaf exports compared to the same period last year.
In the April-June quarter, the company experienced a 14% increase in revenue year-on-year, reaching Tk12,932 crore, with net profit rising by 3.85% to Tk512 crore.
For the year 2023, BATBC declared a 100% cash dividend, the lowest in more than a decade. The company reported a profit of Tk1,788 crore for 2023, only marginally higher than the Tk1,787 crore profit in 2022. However, the dividend payout for 2023 represented just 30% of last year’s total profit, a significant reduction from the 200% cash dividend distributed in 2022.
While detailed historical dividend data before 2010 is unavailable, BATBC has maintained a reputation for offering substantial dividends over the years.
BATBC operates manufacturing facilities in Dhaka and Savar, alongside 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 over Tk1,200 crore to expand its production capacity and meet increasing demand.
Last Thursday, BATBC’s shares closed at Tk409.80 on the Dhaka Stock Exchange, showing a 27% increase in value over the month.
For more updates, be with Markedium.
