BAT Zimbabwe has reported a seven percent decline in cigarette sales volumes for the nine months ended 30 September 2023. In a trading update for the period, the company said this was attributed to the impact of the challenging operating environment on consumer disposable incomes.
“Despite the volume decline, the company recorded a 120 percent growth in net turnover (723 percent in historical terms) as a result of strategic pricing decisions during the period under review,” BAT said.
“Looking ahead, we are confident that our continued investment in the simplification of our business model, our growing consumer-centric brand portfolio, and our winning culture, will enable us to deliver sustained shareholder value, and contribute to the socio-economic growth and development of the country.”