BAT quarterly net profit down 42% on lower volume

BAT managing director Erik Stoel(file pic) said the results were achieved on the back of conscious cost base and investment management.

PETALING JAYA: British American Tobacco (M) Bhd (BAT) registered a 42% year-on-year decline in net profit to RM84.8mil for the third quarter of the financial year ending Dec 31,2019 (FY19), on lower volume.

The group’s net profit for the first nine months of FY19 of RM250mil, represented a 30% decrease as compared to the same period last year.