British American Tobacco Uganda Limited (BAT Uganda) has announced the unaudited financial results for the six months ended 30 June 2022 registering positive performance. Nicholas Ecimu – the Company Secretary revealed that the gross revenue increased by 12% to UGX50.7 billion while Excise Duty and Value Added Tax (VAT) increased by 10% to UGX25.6 billion, “largely driven by higher sales volume and an improved product mix.” Consequently, net revenue increased by 14% to UGX25 billion. “Total cost of operations increased by 16% to Ushs 19.6 billion, in line with higher sales volume and an inflationary increase in product costs driven…
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