Improving consumer demand and increased export of cut rag tobacco saw British American Tobacco Limited (BAT) Zimbabwe recording an overall volume growth of 32% for the third quarter ended September 30, 2021.
In a trading update, BAT Chairman Lovemore Manatsa said the company reported a 25% rise in volume from the sale of cigarettes compared to the same period last year. discount generic viagra online
“The volume increase was attributed to increased consumer demand, more brand investment, and enhanced market access and product availability as compared to the same period last year” he said.
As a consequence of growing demand from export markets, the company saw a 44% rise in export volumes of Leaf and cutrag tobacco in the nine months under review compared to the previous year.
In hyperinflationary terms, volume gains combined with pricing reviews undertaken during the period resulted in a 38 percent increase in net turnover over the same period the previous year.
Dunhill, the Company’s premium brand, increased volumes by 91 percent in the first quarter after re-entering the market in the fourth month.
However, compared to the same period last year, the company’s Aspirational brands, Dunhill Newbury and Dunhill Kingsgate, had a 55 percent drop in volume, owing to lower customer disposable incomes caused by the COVID-19 pandemic. www.beoutq
On the other hand, consumer interest in the value for money brands, Madison, and Everest increased by 10% compared to the same period last year. Ascot, the Low Value for Money brand, has dropped by 43%. في اي نادي يلعب كريستيانو رونالدو
According to Manatsa, the trading environment has improved, owing to the removal of the COVID-19 lockdown restrictions.
He went on to say that the economy benefited from a drop in monthly inflation and a stable foreign currency exchange rate, which resulted in stable pricing over the time under consideration. hazcasino
“The Company continues to evaluate its business model to ensure long-term business sustainability and shareholder value creation,” Manatsa said