British American Tobacco Kenya Plc Thursday reported a net profit of Ksh 6.483 billion for the full year ended December 31, 2021, up 18 per cent year-on-year.
This was attributed to the increase in net revenue and effective cost management and offset by higher corporation tax.
“The growth in profitability is reflected in higher earnings per share aligned to our commitment to deliver sustainable shareholder value,” the company said.
In addition, it said the easing of Covid-19 containment measures created a ‘more favourable trading environment compared to the prior year’.
Its gross revenue increased by 3 per cent to Ksh 40 billion due to pricing benefits in the domestic market. This reduced its growth as a result of lower export sales.
“Consequently, net revenue increased marginally by 0.4 per cent to KSh25.4 billion.”
The firm said this was offset by a Ksh 1.1 billion increase in Excise Duty and Value Added Tax following the inflationary increase in the said taxes.
The final dividend together with the interim dividend already paid gives a total dividend of Ksh 53.50 per share equivalent to KSh5.3 billion for the year ended December.
“The divided which is subject to withholding tax will be paid or about 24 May 2022 to the shareholders on the register at the close of business on 22 April 2022.”
The 2021 dividend represents a yield of 11.4 per cent, based on Thursday’s closing price of KSh468 per share.
BAT Kenya began the year with a share price of Ksh 441.50 and has since gained 6% per cent on that price valuation, ranking it 11th on the Nairobi Securities Exchange in terms of year-to-date performance.
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