CGS International is forecasting a 1% year-on-year decline in BAT’s core net profit for the year ending Dec 31, 2024.
PETALING JAYA: Earnings should bottom out this year for British-American Tobacco (Malaysia) Bhd (BAT), led by its value-for-money products and vape brand Vuse, which is expected to gain market share, according to CGS International (CGSI).
The research unit is forecasting a 1% year-on-year decline in BAT’s core net profit for the year ending Dec 31, 2024, to be followed by a turnaround to grow 9.8% and 5.2% in 2025 and 2026 respectively, which will widen return-on-equity from a low of 51.1% to 57.1% in 2026.
