BAT net profit down 42.7% in Q1

PETALING JAYA: British American Tobacco (M) Bhd (BAT) registered a 42.7% year-on-year decline in net profit to RM50.8mil for the first quarter ended March 31, 2020.

This was mainly attributed to lower profit from operations which saw lower domestic volumes from the legal market, seasonality, stock in trade corrections as well as reduced duty free sales due to the Covid-19 pandemic.