The British American Tobacco (BAT) Uganda has seen its profits more than double this year after the country enjoyed a bumper crop this year.
Net income for the year through December rose to 8.01 billion Ugandan shillings ($3.86 million) from 3.24 billion shillings a year earlier, the Kampala-based company said in an advertisement published in New Vision newspaper.
Net income for the year through December rose to 8.01 billion Ugandan shillings ($3.86 million) from 3.24 billion shillings a year earlier, the Kampala-based company said in an advertisement published in New Vision newspaper.
Exports were higher last year, while improvement in leaf quality enhanced British American Tobacco Uganda Ltd.’s competitiveness in the global market for its exports, it said, without giving details.
Revenue declined to 163.66 billion from 185.87 billion in 2008. Sales of cigarettes, which are imported from BAT’s units elsewhere, were steady during the year. Future operations are threatened by illicit brands in the market, it said.