Group chairman, Mr Lovemore Manatsa, said the company's journey is premised on a transformational journey anchored on building a better tomorrow by reducing the health impact.
"We are confident that our continued investment in the simplification of our business model, our growing consumer-centric brand portfolio, and our winning culture will enable us to deliver sustained shareholder value and contribute to the socio-economic growth and development of the country," he said in a trading update for the nine months to
He said that with sustainability at the forefront and center of the company, the transformation is underpinned by the business's Environment, Social, and Governance (ESG) priorities.
For the period under review, the company's cigarette sales volumes declined by 7 percent compared to the same period in the prior year due to the impact of the challenging environment on consumer disposable incomes.
However, despite the volume decline, the company recorded a 120 percent growth in net turnover as a result of strategic pricing decisions during the period under review.
Meanwhile, BAT said as of
The company said that following the registration of the blocked funds, it transferred
Consistent with the blocked funds guidelines provided in the Exchange Control Directive RU28 dated
In line with the provisions of the
"Management has continued to account for the outstanding blocked funds at a rate of US$1:ZW$1, and a receivable of
BAT is the leading tobacco manufacturer in
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