18 January 2018
   
LATEST: Bennett in fatal chopper crash?
Discipline politically unruly chiefs: group
Polls in '4 to 5' months: Mnangagwa
$430k cocaine woman blames Brazil firm
Tobva tadii paya trio bailed after 3mths
Businessman fleeces clinic of $27,000
Soldiers deployed all over rural Zim: MDC-T
MDC-T’s Mudzuri begs ZCTU for support
MORE NEWS
Bond notes here to stay, says Chinamasa
South Koreans in $70m Zim agro-project
MORE BUSINESS
Hubby bashes Star FM anchor in love row
$18/yr subscr too much for musicians
MORE SHOWBIZ
Zimbabwe beat Sri Lanka in thriller
Caps bid to rehire star forward Nhivi
MORE SPORTS
A view beyond the Zimbabwe coup
'Shit-hole': Just Take moral high ground
MORE OPINION
 
Economy: the need for a paradigm shift
Trump rage ignores truth: A response
MORE COLUMNISTS
 
 
BAT maintains production at 2014 levels on weak demand
28/04/2015 00:00:00
by The Source
 
 
RELATED STORIES

CIGARETTE manufacturer British American Tobacco (BAT) says weak demand for its products due to higher taxes has forced it to maintain production volumes at last year’s levels.

In a bid to shore up dwindling revenue streams, government last year increased excise duty on cigarettes from $15 per 1,000 sticks to $20 per 1,000 sticks, which resulted in a 15 percent price hike.

BAT Zimbabwe Managing director Lovemore Manatsa told The Source on Monday that the company was operating at 75 percent capacity and would maintain the level if the sluggish demand continued.

Manatsa said the operating environment remained testing with liquidity and affordability being the main challenges.

“People just cannot afford, it is tough out there. We have remained almost flat in terms of volumes and financials,” said Manatsa.

“Basically we are trending along the same levels like in 2014 but we have got a number of initiatives that we are triggering which we hope will give us some traction for the rest of the year.”

For the full-year to December BAT reported a $13, 4 million after tax profit from $3, 7 million registered in prior year.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker