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BAT-Uganda posts Shs 29bn profit in 2020

Profit before tax increased by 30 per cent driven by growth in profit from operations and higher net finance income. Gross revenue, however, reduced by 1 per cent due to lower sales volumes, reflecting the impact of the COVID-19 pandemic. Meanwhile, despite the low sales, the companys net revenue increased by 5 per cent to Shs 79 billion primarily driven by the cost-saving initiatives undertaken to cushion the business from the adverse impact of the COVID-19 pandemic. “Estimates show that the...
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