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Harare - BAT Zimbabwe’s volumes for the year ended to December 31 2013 declined by 17% as a result of the slowdown in the country’s GDP growth.
The company’s management told an analysts briefing on Monday February 24 2014 that the ongoing general affordability and liquidity challenges that consumers are facing had resulted in the decline.
As a result revenue for the period at $44.6m was 14% lower than prior year’s $51.8m.
Profitability at $3.7m was a 69% reduction from prior year’s $12.2m.
Profitability was affected by a share based payment expense of $10.9m. This expense is part of the Company’s compliance with Indigenisation and Economic Empowerment Legislation.
The company declared a final dividend of 18 cents per share for the period.
The company’s management told an analysts briefing on Monday February 24 2014 that the ongoing general affordability and liquidity challenges that consumers are facing had resulted in the decline.
As a result revenue for the period at $44.6m was 14% lower than prior year’s $51.8m.
Profitability at $3.7m was a 69% reduction from prior year’s $12.2m.
Profitability was affected by a share based payment expense of $10.9m. This expense is part of the Company’s compliance with Indigenisation and Economic Empowerment Legislation.
The company declared a final dividend of 18 cents per share for the period.
