Tag: BAT Kenya

BAT Kenya explores new export markets as local sales dip

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KENYA – Cigarette manufacturer British American Tobacco (BAT) Kenya is eying new export markets, seeking to compensate for a dip in Kenyan sales. The Nairobi Securities Exchange-listed firm targets South Sudan, Madagascar, and Djibouti with cut rag tobacco, cigarettes, and tobacco-free oral nicotine pouches, Lyft. Kenyan market sales dropped 13.8% to KSh11.6 billion (US$106.2 million) in 2020 on reduced consumption of cigarettes in the wake of regulatory curbs and rising prices following additional taxes. The Kenyan government had raised excise duty on cigarettes by 20% in 2019, followed by a…

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BAT Kenya maintains US$3.2m interim dividend on slight profit rise

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KENYA – Cigarette manufacturer BAT Kenya has maintained Sh350 million (US$3.2 million) interim dividend after net profit for the six months to June rose by 0.71 percent, partly slowed by increased operating cost. The company’s half-year net profit increased by Sh19 million (US$175,519) to hit Sh2.69 billion (US$24.8 million) as sales volumes grew in the Covid-19 environment.  The board has approved an interim dividend of Sh3.50 (US$0.032) per share amounting to Sh350 million (US$3.2 million), being the same as what was paid in the preceding similar period. The payout is…

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BAT Kenya completes the first phase of its new US$23m ‘Lyft’ factory

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KENYA – Cigarettes manufacturer British American Tobacco-Kenya (BAT) has completed the first phase of its new US$23 million Nairobi based factory. The hub centred on the production of free oral nicotine pouches for the African market and the globe is expected to support up to 80 new skilled jobs once complete. The factory is a central pillar in BAT’s diversification away from just the manufacture and marketing of cigarettes. Progress on the multi-billion facility nevertheless comes against an ongoing tug of war between the firm and Kenya’s Ministry of Health…

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BAT Kenya sees its net profit jump by 42% to US$50.2m

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KENYA – Cigarette manufacturer BAT Kenya has posted a 42% jump in net profit for the year ended December 30, 2020. The company’s net profit hit US$50.21 million at the end of 2020, from US$35.46 million reported in 2019. However, the Nairobi Securities Exchange listed firm saw its gross revenue decline slightly to US$354.6 million from US$363.6 million in 2019. BAT says that the year 2020 posed numerous challenges including, competition from illicit products, drop in consumers’ disposable income, and a tough economic environment. The firm’s domestic sales in Kenya…

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BAT Kenya picks Chrispin Achola as new managing director

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KENYA – The Board of British American Tobacco Kenya (BAT Kenya) has announced the appointment of Chrispin Achola as the new managing director following the resignation of Beverly Spencer – Obatoyinbo who has stepped down after serving for nearly four years in that position. Mr Crispin Achola will assume office effective 1st January 2021. In a statement to investors, BAT Kenya noted that Mrs Beverly had completed her assignment and she will continue to serve in advisory capacity “for a period of time to ensure smooth transition”. Before this appointment, Mr Chrispin…

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BAT Kenya appoints Rita Kavashe as the new and first woman board chairman

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KENYA – British American Tobacco Kenya plc (BAT Kenya), part of British American Tobacco, a multinational company that manufactures and sells cigarettes, tobacco and other nicotine products, has appointed Rita Kavashe as the Chair of the Company’s Board. “Rita’s appointment comes at an ideal time, when the Company is accelerating its transformation agenda. BAT’s evolved corporate strategy and purpose – to deliver A Better Tomorrow for our stakeholders – is underpinned by an ambition to reduce the health impacts of our business,” BAT Kenya Managing Director, Mrs. Beverley Spencer-Obatoyinbo. “Our…

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