For the quarter under review, BAT Malaysia recorded revenue of RM412 million, an increase of 5.6% compared with the RM390 million registered a year ago. Profit from operations was RM46 million compared to RM59 million in the same period last year.
The Group’s market share declined by 0.3% compared to the preceding quarter contributed by intensified competition and downtrading trends within the combustible space. As a result, BAT’s Premium and Aspirational Premium brands recorded market share declines of 0.3% and 0.2% respectively, whereas, Value-For-Money brands captured 0.2% increase in market share mainly due to positive traction from Luckies.
BAT said the dip in profit from operations is mainly attributed to the Group’s reinvestment strategy as a multicategory
business. The tobacco black market is persistently high with an incidence of 55.9% in Q1’24. Additionally, the nicotine industry continues to experience consumers shifting to the growing vapour category.
The Board of Directors has declared a first interim ordinary dividend of 10 sen per ordinary share amounting to RM28.6 million, payable on 20 June 2024 to shareholders.
