KUALA LUMPUR (July 19): Owing to the market contraction, British American Tobacco (Malaysia) Bhd registered a 21.07% drop in net profit to RM113.72 million for the second quarter ended June 30.
In a bourse filing, BAT also attributed its lower earnings to the absence of the sale of residual leaf raw materials to related companies outside of Malaysia and the portfolio mix impact as a result of its Rothmans launch in the Value for Money (VFM) segment.
Revenue was 9.24% lower at RM679.15 million from RM748.31 million in the same quarter last year.
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