British American Tobacco Zambia Records K165bn Turn-over

Source from:  Zambia Daily Mail 09/18/2012

BRITISH American Tobacco Zambia plc has recorded an increase in gross turn-over to about K165 billion as at June 30, 2012 from K130 billion last year, due to increase in sales volumes and better brand mix. The company attributes the good performance to the successful roll-out of innovations together with a focused trade marketing and distribution model. According to the company's interim report for the six months, which ended on June 30, 2012 availed to the Daily Mail, sales volumes for the half-year were 31 percent above same period last year. "The company recorded an increase in gross turn-over to K165,117 billion in the first six months of 2012 as compared to K130,170 billion last year in the same period due to increase in sales volumes and better brand mix," reads the statement. The company says the increase in gross turn-over resulted in higher profit attributed to shareholders by K16, 579 billion. Meanwhile, Government levies increased to K74,987 billion in the period under review from K57,828 billion last year representing 29.7 percent higher than 2011 due to an increase in sales volumes though this was partially offset by the increase in illicit trade. The company also recorded a net increase in cash and cash equivalents due to improved working capital management. And the board of directors has declared an interim dividend of K70 per share in the period under review, the total to be paid out is K14,872 billion as compared to K50 per share last year, while the total paid out was K10,623 billion. Enditem