BAT said it remained concerned with legal volumes continuing to be impacted by the current high incidence of illegal cigarette trade. The outlook for the second half of 2018, BAT said, would be very much dependant on the recovery of the legal market.
PETALING JAYA: British American Tobacco (M) Bhd
(BAT) could see its earnings weighed down by higher cigarette prices if the quantum of increase results in consumers switching to cheaper alternatives, say analysts.
TA Research, for one, noted the risk of a decline in legal market share for cigarettes in the event of price hike.
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