BAT nets Sh4 billion in profit

Cigarette manufacturer British American Tobacco (BAT) netted Sh4 billion net profit last year, a 22 per cent jump from Sh3.3 billion in a similar period in 2017.

BAT said the profit jump was mainly buoyed by the sale of semi-processed tobacco and excise-led pricing in Kenya and its export markets. Taxes paid by the cigarette maker, on the other hand, rose marginally by 1.3 per cent following lower excise duty as a result of selling fewer cigarettes in the Kenyan market.