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BAT Bangladesh reports 456C in profits

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Leading tobacco company, BAT Bangladesh has posted modest growth in yet another quarter – extending its strong performance over the years. The company reported a net profit of Tk456 crore or an earning of Tk8.44 per share for the first quarter of 2023, registering a growth of 9.2% against the same period in the previous year. Financial results were published in the company websites on Wednesday. Increased sales have contributed to the notable growth in the company’s profitability, said an equity research analyst. According to the company’s financial report, cigarette sticks sold have increased by 11.1% over the quarter in comparison with the same quarter last year. The directors board of the company has also approved an investment of Tk60.7 core at the same board meeting on May 10 for enhancing the capacity and productivity of its factory, said the disclosure published on the exchange websites. Stock price of the company has, however, not made a move yesterday despite the company’s strong earnings. The current stock price of BAT Bangladesh is stuck at its regulatory directed floor price of Tk518.7 per share. BAT Bangladesh was listed with the Dhaka bourse in the year 1977.

Source: Dhaka Tribune

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