BAT Bangladesh’s profit remains nearly flat as expenses rise
British American Tobacco Bangladesh Company, the largest tobacco product maker in the country, registered marginal growth in profit in 2023 and recommended a 100 percent cash dividend.
The dividend is the lowest in a decade for the tobacco company, an indicator of how various economic factors of the country are affecting its bottom line.
The profit stood at Tk 1,787.94 crore in 2023, just a 0.03 percent increase against TK 1,787.4 in 2022.
BAT Bangladesh recorded earnings per share of Tk 33.11 for 2023, against EPS of Tk 33.10 in 2022, according to a filing to the Dhaka Stock Exchange.
The company cited higher expenses as the primary reason for the marginal profit growth, as the continuous inflationary impact and devaluation of the taka increased its cost significantly.
The tobacco maker also saw its net operating cash flow per share decline to Tk 18.9 in 2023 from Tk 50.04 a year earlier, as higher payments of VAT, duty and tax to the government and payments to suppliers for materials and expenses reduced the cash flow.
Shares of the company remain unchanged at Tk 518.7 on the DSE, as the floor price curbs remain.
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