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Shareholders of BAT Uganda have approved UGX 10.3 billion (UGX 209 per share) as a first and final dividend for the year ended 31st December 2022, during the Company’s 23rd Annual General Meeting (AGM) held today, 6th July 2023. The dividend, which is in line with the Company’s 100% dividend pay-out policy, will be paid net of withholding tax on 1st August 2023. During the AGM, the Company also celebrated its 95th year of operation in Uganda. Mathu Kiunjuri, the BAT Uganda Managing Director, said that while the business’ fundamentals remained solid as evidenced by the company’s sustained investment in…
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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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Shareholders of British American Tobacco Uganda Limited (BAT Uganda) have ratified UGX10.2 billion (UGX209 per share) as a first and final dividend for the year ended 31st December 2021, during the Company’s 22nd Annual General Meeting (AGM) held electronically. The dividend, which will be paid net of withholding tax on 11th July 2022, is in line with the Company’s 100% dividend pay-out policy. “Despite the adverse impact of an exceptionally difficult trading environment in 2021, we are happy to have made a profit resulting in a dividend payout to our shareholders. BAT Uganda’s business fundamentals remain strong, and the Company’s…
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British American Tobacco Uganda (BATU) Limited has said the first half of the year was characterised by a challenging operating environment occasioned by the Covid-19 pandemic as well illicit trade of tax-evaded cigarettes. “The COVID-19 pandemic continued to adversely impact the business due to restrictions and the general decline of consumer disposable incomes,” says the company statement by Company Secretary Nicholas Ecimu. Gross revenue reduced by 41% to UGX 45.2 billion, driven by a decline in sales volume. This is compared to UGX75.9 billion realized during the same period last year. “Following the implementation of Tobacco Control Regulations, 2019 (TCR),…
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While the Covid-19 pandemic impacted economies the world over including Uganda, British American Tobacco Uganda Limited (BAT Uganda) navigated the storms and registered a resilient performance for the year ended 31 December 2020. The company recorded gross revenue of UGX162 billion, profit before tax of UGX29 billion, contributions to Government tax revenue of UGX91 billion and Profit after tax of UGX19 billion. Commenting on the results, BAT Uganda’s Managing Director, Kirunda Magoola said: “BAT Uganda’s business continues to show resilience despite the difficult operating environment, largely resulting from the ongoing COVID-19 pandemic, which had adverse effects on the economy and…
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Who is Kirunda Magoola and what experience do you bring to BAT Uganda? I am a married father of three, a literature enthusiast, and a Rotarian to boot. At my core, however, is a proud 80’s kid from the generation way back when BMX bikes, radio cassettes, MTV, the Walkman, and SEGA were the only decent distractions from my other passion, a good old-fashioned game of cricket. My general view of the world is informed by my professional experiences which define my ethos: to consistently seek new challenges as avenues for self-improvement. I believe life begins at the other side…
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The Board of Directors of British American Tobacco Uganda Limited have appointed Kirunda Magoola as the company’s new Managing Director with effect from August 1, 2020. This follows the resignation of Mr. Mathu Kiunjuri who has resigned from his position as Managing Director to take on another re-deployment. “Mr. Mathu Kiunjuri has resigned from his position as Managing Director and Executive Board Director of the Company effective 31st July 2020, following re-deployment to a new senior role within the British American Tobacco Group,” said BAT’s board in a media statement. The outgoing MD, Kiunjuiri was appointed to the Board as…
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