Kenya: BAT Sells More Pricier Smokes

Source from:  The Independent Online (IOL) / The Post (za)  07/16/2013

British American Tobacco (BAT) Kenya posted an 11 percent jump in first-half pretax profit to 2.2 billion shillings (R255 million) because of higher sales and prices.

The region's biggest cigarette maker maintained its interim dividend at 3.50 shillings a share, it said in a statement seen by Reuters yesterday.

BAT Kenya, a unit of London-listed BAT, reported a rise of 4 percent in gross revenue for the six months to June, which countered lower semi-processed leaf sales.

Net revenue was flat at 9 billion shillings, offset by excise duty and VAT.

Cost controls in the manufacturing process had buoyed earnings, BAT said. Enditem