BRITISH American Tobacco Zimbabwe (BAT) recorded an 18 percent decline in volumes during the three months ended March 31, 2023 due to a decrease in demand owing to a decline in disposable incomes for consumers.
The cigarette maker said export volumes of tobacco leaf and cut rug tobacco declined by 26 percent in the quarter compared to the same period in the prior year due to subdued demand in export markets.
In a trading update, BAT said pricing reviews made during the period resulted in BAT recording growth in net turnover in historical terms of 391 percent compared to the prior period.