British American Tobacco Bangladesh Company (BAT Bangladesh) is gearing up for growth with a Tk28.38 crore investment to expand its production capabilities. The move, funded through a blend of internal resources and bank loans, aligns with the company’s strategy to meet rising demand and strengthen its market position.
With manufacturing hubs in Dhaka and Savar, alongside green leaf processing plants in Kushtia and Manikganj, BAT Bangladesh produced a staggering 50,305 million cigarette sticks and 4.16 million kilograms of tobacco leaf in the first nine months of 2024.
Since embarking on exports in 2018, the company has unlocked global opportunities, generating Tk155.47 crore from cigarette exports and Tk208 crore from tobacco leaf exports between January and September 2024. Investments totaling Tk1,333 crore in its Savar facility since 2021 underscore its export ambitions.
The company’s 2023 report highlights Bangladesh’s strategic edge in the tobacco sector, driven by cost efficiency and premium quality. By tapping into the global market, BAT Bangladesh envisions replicating the success of the country’s ready-made garments industry.
In the first three quarters of 2024, BAT Bangladesh earned Tk30,843 crore in revenue from cigarette sales, recording a net profit of Tk1,322 crore. To reward shareholders, the company declared a 150% interim cash dividend. Its shares closed at Tk350.50 on Tuesday on the Dhaka Stock Exchange, reflecting a slight 0.65% dip.
With this bold step, BAT Bangladesh reinforces its commitment to staying ahead in the evolving tobacco landscape, both locally and internationally.
Source: The Business Standard
