This archive report was first published on 16 July 2020.
On July 16, 2020, British American Tobacco Kenya revealed a Sh2.5 billion profit after tax in the last financial year, despite a 13% fall in earnings due to the COVID-19 pandemic and new excise taxes.
The company's gross revenues fell from Sh19.2 billion in 2019 to Sh16.6 billion, primarily due to closed retail stores and economic constraints faced by consumers.
According to the company's statement, gross revenue reduced by 13.6% to Sh16.6 billion, driven by lower domestic and export revenue, which reflected the adverse economic impact of the COVID-19 pandemic and the impact of excise-led price increases on consumer affordability and illicit trade incidence in Kenya.
The company has approved an interim dividend of Sh3.50 for the year ended December 31, 2020.
