Wednesday, October 20, 2010

BAT 3Q net profit up 2.4% to RM170.65m

KUALA LUMPUR: BRITISH AMERICAN TOBACCO (M) [] Bhd net profit for the third quarter ended Sept 30, 2010 rose 2.4% to RM170.65 million from RM166.73 million a year ago, on the back of revenue RM993.59 million.

Earnings per share was 59.8 sen, while net assets per share was RM1.71.

BAT declared a second interim dividend of 64 sen per share, tax exempt under the single-tier tax system totaling RM182.74 million in respect of the financial year ending Dec 31, 2010.

For the nine months ended Sept 30, BAT's net profit declined to RM548.39 million from RM573.92 million, despite achieving a higher revenue of RM3 billion from RM2.9 billion a year earlier.

The company attributed the decline in net profit to operating profit movements, marginally higher finance costs, due to the timing of bond refinancing in 2009, and lower effective tax rate from revised tax payable for 2009.


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