BATBC Plans $24 Million Investment to Boost Cigarette Production

BAT by 2FIRSTS.ai

Dec.27.2024

BATBC Plans $24 Million Investment to Boost Cigarette Production

BATBC plans to invest 2.838 billion Taka to boost cigarette production capacity, satisfying growing demand, Financial Express reported.

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.

References:

[1] BAT decides to invest more to increase production

Also Read:

[1] BAT Is Developing Technologies to Restrict Youth Access to Tobacco

[2] BAT Releases 2024 Fiscal Year Trading Update on December 11th

[3] BAT Launches New HTP Device 'HILO' Series, Debuts in Serbia with EasySwitch Pen

[4] BAT's BTV Launches Second Fund Focused on Health and Innovation

#Traditional tobacco #Asia #Bangladesh #Major companies

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