BAT posts lower pre-tax profit due to reduced industry volumes

  • Business
  • Thursday, 27 Oct 2005

British American Tobacco (Malaysia) Bhd (BAT) has recorded a pre-tax profit of RM296.5mil for the third quarter of 2005, a drop of 8.7% from same period last year, it said in a statement in Petaling Jaya yesterday. 

Year-to-date profit before tax also declined to RM705.8mil compared with RM885.5mil in the same period last year. 

The company attributed the decline mainly to reduced industry volumes, increased expenditure driven by regulatory compliance costs, contribution made to the growers and grower-curers of tobacco leaf relating to the restructuring of the local tobacco farming industry, as well as discount pricing activities. 

“The industry remains susceptible to discount pricing activities following the introduction of seasonal special offers to the market in recent weeks,” its managing director, Andrew Gray, said in the statement. 

Although down-trading continued to be a feature, the increases in Pall Mall's market share had almost fully offset the reductions in Dunhill and other BAT Malaysia brands, resulting in year-to-date total market share showing a tendency towards stabilisation at 63.4% compared with 63.5% in 2004. – Bernama 

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