Uganda illicit cigarette trade

British American Tobacco Uganda’s (BATU) net profit declined by 5.3% to UGX 9.76 billion for the year ended December 31, 2025, down from UGX 10.31 billion in 2024, as falling cigarette sales and a sharp rise in illicit trade weighed on performance. Audited results show profit before tax dropped by 18% to UGX 12.4 billion from UGX 15.1 billion, while gross revenue declined by 18% to UGX 67.0 billion from UGX 82.1 billion, and net revenue fell by 20% to UGX 36.3 billion from UGX 45.4 billion, reflecting significant pressure on sales volumes. Illicit trade reshapes market At the center…