BAT Bangladesh’s Q1 earnings rise

British American Tobacco Bangladesh Company Limited’s first quarterly earnings increased by 27.5 percent. 

In a filing with Dhaka Stock Exchange on Thursday, the company said that the earnings increased for higher profit after tax compared to same period last year driven by growth in volume and cost optimization

BAT said that its earnings per share (EPS) was Tk 21.51 for January-March 2021 as against Tk 16.87 for the same period of the previous year. 

Meanwhile, the net asset value (NAV) per share was Tk. 210.40 as of March 31, 2021, and Tk. 215.72 as of March 31, 2020. 

Beginning the journey as Imperial Tobacco 110 years ago, the company set up its first sales depot at Armanitola in Dhaka. After the partition of India in 1947, the then Pakistan Tobacco Company was established.

The first factory in Bangladesh (the then East Pakistan) was set up in 1949 at Fauzdarhat in Chattogram and in 1965, the second factory of Pakistan Tobacco Company was set up in Mohakhali, Dhaka.

After Bangladesh’s independence, the company became Bangladesh Tobacco Company Limited and in 1998, the company changed its name and identity to the current British American Tobacco Bangladesh (BAT Bangladesh), aligning the corporate identity with other operating companies in the BAT Group.

BAT Bangladesh is amongst the first few companies to be listed on the Dhaka and Chattogram Stock Exchange and is also one of the leaders in market capitalisation.

The Raleigh Investment Co Ltd holds 72.91 percent shares of BAT while 6.05 percent is owned by Investment Corporation of Bangladesh, Sadharan Bima Corporation holds 2.82 percent, Bangladesh Development Bank Limited holds 0.34 percent, the Bangladesh government holds 0.64 percent, corporate investors hold 14.20 percent and the rest 3.03 percent is owned by the individual investors.

During Thursday’s session, the adjusted opening price of BAT Bangladesh’s shares was Tk 560.2.