BAT | British American Tobacco Zimbabwe 1H21 Earnings Update; Domestic market sales continue driving revenue

    The company registered strong growth in revenue despite the continued scourge of Covid-19, with decreased trading hours in distribution outlets and weakened consumer purchasing power being a recurrent theme through 1H21. BAT moved to counter Covid-19 hit volumes through strategic marketing exercises yielding a 27% sales volumes growth compared to the same period last year. Revenue grew 350% y/y from $288.44mn to $1.30bn from a cocktail of recovering volumes, price increases and export of cut-rag. Receipts from cut- rag exports ...

     

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