Cigarette maker British American Tobacco (BAT) Kenya is among the few firms that have defied the Covid-19 blues to register growth in profit. The company yesterday reported a 42 per cent increase in profit after tax to Sh5.52 billion for the year to December 2020 from Sh3.89 billion in 2019. Read MoreThe company said increased exports enabled the firm to mitigate the impact that the pandemic had on its domestic sale of tobacco products. “Despite the tough macro-economic environment and the domestic performance, underlying business fundamentals remained strong, thanks to new exports opportunities,” Achola said. “Net revenue increased by five per cent to Sh25.3 billion, driven by higher export revenues and lower excise duty and value added tax.”

Source: Standard Digital February 20, 2021 10:52 UTC