Black market still weighing down BAT Malaysia’s performance

British American Tobacco Bhd’s net profit for the second quarter ended June 30 fell 28.4% to RM54.61 million from RM76.27 million a year ago, while revenue was 14.7% lower at RM546.59 million compared with RM640.81 million in the previous year’s same quarter.

The company also refocused its distribution to organised convenience stores as most restaurants and cafes were closed during the MCO. As a result, there was a 1.9 percentage point increase in share of market in convenience stores versus the preceding quarter. Despite the difficult operating landscape, the board of directors declared a second interim dividend of 18 sen per share, totalling RM51 million to be paid out on Aug 19, 2020.

“However, tackling the tobacco black market and illegal vaping remains to be the biggest issue for the sustainability of the legal tobacco industry. BAT Malaysia has taken the proactive step to address the illegal tobacco trade through the launch of our Stop the Black Market campaign on July 6, 2020,” Reed said in a statement.

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