At 97 years BATU is one of Uganda’s oldest companies; but what does its post-100 future likely to be?

Last week British American Tobacco Uganda (BATU) released its performance results for 2023 reporting that due to a reduction in cigarette sales volumes- its revenues and net profit had each reduced.  BATU reported that gross turnover reduced 13.6% from UGX99.5 billion in 2022 to UGX86 billion in 2023 and as a result, net profit went down by 10.1% from UGX9.9 billion to UGX8.9 billion. In what has now become a more than decade-long cry song, the company blamed the poor sales on the persistent illicit tobacco products trade that it said constitutes about 29% of the industry and costs the…