According to The Financial Express on December 27th, British American Tobacco Bangladesh Company (referred to as "BATBC") plans to invest 2.838 billion Taka (240 million USD) to increase its production capacity to meet the growing demand for cigarettes. This fund will be used for purchasing, converting knitting, inspecting, installing, spare parts, and transferring machinery.
The company announced on Thursday (the 26th) in a stock exchange filing that its board of directors had approved the capital investment decision at a meeting the previous day. BATBC stated, "The investment will be made using internal funds and bank financing based on the company's cash flow.
British American Tobacco Bangladesh Company (BATBC) did not provide specific details about how much production capacity will increase or the exact impact on revenue and profits. Over the past four years, British American Tobacco has invested over 12 billion taka (1 billion USD) in stages to enhance production capacity.
In the nine months ending in September, the company's net sales increased by 2.12% year-on-year to reach 69.4 billion taka (6 billion USD), while profits slightly decreased by 2.5% to reach 13.22 billion taka (approximately 1 billion USD). Annual profits for 2023 were 17.88 billion taka (1.5 billion USD), remaining nearly flat compared to the previous year.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
