BAT Bangladesh’s profit rises on higher sales

British American Tobacco (BAT) Bangladesh Company Ltd's profit grew 4 per cent in the first six months of 2023, driven by higher sales and leaf exports although it recorded a marginal decline in earnings in the second quarter.

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

However, including the second quarter earnings, BAT Bangladesh's 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 of the tobacco products maker rose 4 per cent to Tk 17.59 in the first half.

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

Shares of BAT Bangladesh remained unchanged at Tk 518.7 on the DSE yesterday.

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

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