BAT Bangladesh posts revenue and profit growth in H1

The British American Tobacco (BAT) Bangladesh — a multinational cigarette manufacturer in the country — registered a 7.62% revenue and a 6.03% net profit growth in the first half of 2022 compared to the first half of 2021.

According to the company's half-yearly financials, in the January to June period of 2022, its revenue increased to Tk4,133.80 crore, and net profit to Tk913.95 crore.

Its earnings per share (EPS) stood at Tk16.93, which was Tk15.96 in the same six months of the previous year.

The company said its EPS increased because of higher profit after tax driven by growth in volume as compared to the same time of the previous year.

The company's revenue from domestic sales alone rose by 7.28% in the first half as the number of cigarette sales went up to 35,392 million from 34,500 million in the country.

In the second quarter from April to June, its revenue increased 21% to Tk2,180.78 crore from Tk1,799.11 crore in the second quarter of 2021.

During the period, its net profit rose 4.67% to Tk497.01 crore from Tk474.79 crore a year ago.

In the first half of 2021, BAT Bangladesh reported a 25% net profit growth to Tk3,841.17 crore, which was Tk3,070.48 crore in the same period of 2020.

BAT Bangladesh manufactures tobacco products namely Benson & Hedges, John Player Gold Leaf, Capstan, Star, Royals, Lucky Strike, Derby, Pilot, Flag and Hollywood.

The company was listed on the Dhaka Stock Exchange in 1977.

The company has cigarette factories located in Dhaka and Savar, a green leaf threshing plant in Kushtia, and a green leaf re-drying plant in Manikganj.

In March this year, the company announced the investment of  Tk574.20 crore in its Savar factory.

This investment would cater to the upcoming export opportunities and create contingency capacity, BAT Bangladesh said.