Jump to full article: Nation Media (ke), 2008-01-07
Author: JULIUS BARIGABA Special Correspondent
Intro: British American Tobacco (Uganda) closed 2007 on a high note with its leaf export volumes soar and cigarette sales going up. The company's shares on the stockmarket maintained a surge to complete the firm's return to good performance.
By the end of last year, BAT had posted the highest export volumes reported in many years, increasing to 19 million kilogrammes up from 12.7 million kilogrammes in 2006. It also posted close to 50 per cent increase in overall shipments and four million kilogrammes above its target volume for 2007.
"We have improved production capacity by over 52 per cent through implementing innovative efficiency initiatives," said Cathy Adengo, the company's corporate and regulatory affairs manager.
However, the jury is still out on whether the firm can sustain this recovery rate after three years of non-profit and no payment of dividend to its shareholders.
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