British American Tobacco Uganda Limited (‘BAT Uganda’) yesterday announced its unaudited results for the first half of 2018.
BAT Managing Director Mathu Kiunjuri said “In the first half of 2018, BAT Uganda posted a profit after tax of Ushs. 6.2 Billion. This was attributable to higher operating profit and lower financing costs.”
“BAT Uganda remains a significant contributor to Government revenues. Contribution to Government revenues in the form of Excise Duty and VAT stood at Ushs 40.4 billion for the six months to 30 June 2018.”
“We anticipate that we will continue growing our shareholders’ value owing to the equity of our quality products and robust distribution network.”
The Chairman of the Board, Dr. Elly Karuhanga, said “I am pleased with the progress of the business in the first half of the year, notwithstanding the adverse impacts of illicit trade and increased costs of doing business resulting from fuel price hikes witnessed during this period. I reiterate BAT Uganda’s commitment to building a strong and sustainable business to deliver value for its shareholders and other stakeholders.”