BAT’s wings clipped by Covid-19, black market

In a filing with Bursa Malaysia, BAT said the group’s duty-free business operations remained impacted by Covid-19 travel restrictions that continued in the third quarter.

PETALING JAYA: British American Tobacco (M) Bhd’s (BAT) net profit for its third quarter ended Sept 30,2020 dropped 23% to RM63.74mil from RM83.13mil in the previous corresponding period, as business was affected by the Covid-19 pandemic and the growing tobacco black market.

In a filing with Bursa Malaysia, BAT said the group’s duty-free business operations remained impacted by Covid-19 travel restrictions that continued in the third quarter.