British American Tobacco Malaysia reported its Q4 and full year results with the group seeing an increase in combustible volume alongside the sale of vapour products during this quarter that gave rise to a 4.8% increase in revenue from RM607 million to RM636 million.
The group said in view of the Group’s major launches of its Vuse products during this quarter, sizeable investments were incurred to build brand visibility and credentials. As a result, profit from operations reported a dip of 24.5% from RM85 million to RM64 million quarter on quarter as the Group continues to charge forward into a true multicategory business.
For FY23, total revenue was RM2.31 billion down from the previous year of RM2.59 billion, profit was also affected coming in at RM194 million versus RM262 million recorded in the preceding year.
Within the legal combustibles space, BAT said it gained 0.3% market share within this quarter as compared with the preceding quarter contributed by the Group’s Value-For-Money brands which captured an additional 0.9% of the market share.
The Board of Directors has declared a fourth interim dividend of 15 sen per ordinary share, amounting to RM42.8 million, payable on 5 March 2024 to shareholders. Nedal Salem, Managing Director of BAT Malaysia, said, “Our Q4 financial performance was within expectations given the changing market trends.”
