British American Tobacco Uganda (BATU) reported first-half 2020 results with gross revenue down by 12 percent to UGX76 billion ($20.6 million) and pre-tax profits at UGX9.9 billion.
“I am pleased to report that BAT Uganda’s business continues to show resilience despite the difficult operating environment in the country,” said BATU Managing Director Mathu Kiunjuri.
“With rising unemployment and a significant increase in the cost of various basic consumer goods, the [Covid-19] pandemic has left many consumers more cash stretched than ever. Additionally, the closure of retail outlets led to constrained consumer access to our products.
Despite these challenges, our business continues to be resilient due to prudent cost management measures undertaken to mitigate the decline in revenue.”