BAT Bangladesh’s profit rises on higher sales, leaf export

British American Tobacco (BAT) Bangladesh Company Ltd today said its overall profit grew 4 per cent in the first six months of the current financial year, driven by higher sales and leaf export although it recorded a marginal decline in earnings in the second quarter.

The market leader in the cigarette business in Bangladesh registered a Tk 493 crore income in April-June of 2023, down from Tk 496 crore a year ago.

However, including the second quarter earnings, BAT Bangladesh's overall earnings stood at Tk 949 crore in January-June, up from Tk 913 crore in the same period a year ago.

Accordingly, the earnings per share (EPS) of the tobacco products maker rose 4 per cent to Tk 17.59 in January-June.

The EPS increased from the same period last year driven by volume growth and higher leaf export, according to a disclosure by the company on the Dhaka Stock Exchange (DSE).

Shares of BAT Bangladesh remained unchanged at Tk 518.7 on the DSE as of 11:50 am.

BAT Bangladesh said it recorded Tk 21,229 crore in sales of tobacco products in the first half of 2023, clocking a 14 per cent year-on-year growth, according to the unaudited financial statement published today.

The multinational company registered a 15 per cent higher sales to Tk 11,329 crore in April-June.