It’s getting to that time of year when shareholders start to reap from their investments after the hard work has been done. British American Tobacco Uganda (BATU), released their financials at the end of February, revealing a slight dip in profits.
An 8% reduction in profits before tax is a much smaller reduction than had earlier been feared since the company had earlier released a profit warning. Profit before tax dipped to Ugx 15.7bn, from Ugx 17bn on the back of higher taxes. Higher import duty, income taxes and Value Added taxes took Ugx 63bn off improved revenues of Ugx 270bn.