Malaysia: BAT Malaysia profits up
According to media reports, British American Tobacco (Malaysia) Bhd's profit before tax rose 3.3% in Q4 2013.
The company recorded MYR 254.30 million ($77.7 million) profit in Q4 2013 compared to MYR 246.12m ($75.2 million) a year ago, due to growth in contract manufacturing volume for export and lower operating expenses.
However, the domestic market income has been impacted by year-on-year volume decline.
The company's leading brand – Dunhill – recorded a 1.3% increase in market share, due to growth across almost all its variants.
"We had a solid performance for 2013. However, in light of the challenging economic environment and the spectre of illegal cigarette hanging over our business, we are preparing ourselves for a tough 2014," concluded Stefano Clini, Managing Director of the company.
Source: The Star