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BAT-Uganda posts Shs 29bn profit in 2020

Profit before tax increased by 30 per cent driven by growth in profit from operations and higher net finance income. Gross revenue, however, reduced by 1 per cent due to lower sales volumes, reflecting the impact of the COVID-19 pandemic.
Meanwhile, despite the low sales, the company s net revenue increased by 5 per cent to Shs 79 billion primarily driven by the cost-saving initiatives undertaken to cushion the business from the adverse impact of the COVID-19 pandemic.
“Estimates show that the government loses approximately Shs 30 billion in revenue annually. Towards the end of 2020, we commissioned third-party research which found that 17.4 per cent of cigarettes sold in the Ugandan market were illicit. Further, about 44 per cent of illicit cigarettes sold in Uganda are smuggled across the border; primarily tax-evaded cigarettes from Kenya. To address this problem, we believe that a multi-pronged approach would be most effective, including enhanced factory, border and s ....

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BAT Uganda Releases its 2020 Performance Report

BAT Uganda Posts Gross Revenue of UGX162Bn in its 2020 Performance Report
BAT Uganda 2020 performance report: posts gross revenue of UGX162 billion, profit before tax of UGX29 billion and contributions to government tax revenue of UGX91 billion.
2 minutes read
BAT Uganda in its 2020 Performance Report showed it total cost of operations reduced by 5% to UGX50 billion. (FILE PHOTO)
BAT Uganda today announced its full year results for the year ended December 31st, 2020 posting gross
revenue of UGX162 billion, profit before tax of UGX29 billion and contributions to government tax revenue
of UGX91 billion.
While commenting on the results, BAT Uganda’s Managing Director, Kirunda Magoola said, the company’s business continues to show resilience despite the difficult operating environment, largely resulting from the ongoing pandemic, which had adverse effects on the economy and the trading environment. Adding that, “To facilitate business continuity a ....

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Cervical cancer: WHO advocates increase in introduction of HPV vaccine

Cervical cancer: WHO advocates increase in introduction of HPV vaccine
nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.

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IHC irked over non-implementation of order for calling contract bids - Newspaper

IHC irked over non-implementation of order for calling contract bids - Newspaper
dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.

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State of the cigarette market after the ban

Dec 11, 2020
Cigarette prices have decreased sharply from their highly inflated levels during the sales ban, but are substantially higher than their pre-lockdown levels.
The average retail price of cigarette brands produced by the multinationals is nearly 5% higher than before the sales ban, while the average retail price produced by the local manufacturers is 30% higher.
These are some of the findings of a recent study, conducted by the Research Unit on the Economics of Excisable Products (REEP), based at the University of Cape Town (UCT). The research was based on an online survey of nearly 4 000 people, conducted in September 2020. Respondents to the survey had been participants in a previous REEP survey, and were contacted with their consent through social media and Moya, a data-free messaging platform. ....

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