British American Tobacco Bangladesh has announced plans to invest Tk 28.38 crore to boost its production capacity, according to a disclosure made on the Dhaka Stock Exchange website on Thursday.
In the disclosure, the company stated that the investment would be financed through a combination of internal resources and bank loans, aligning with its cash flow strategy.
The decision was taken during a meeting of the company鈥檚 board of directors held on December 24.
The tobacco company operates factories in Dhaka and Savar areas. The company also has a green leaf threshing plant in Kushtia and a green leaf re-drying factory unit in Manikganj.
According to the company鈥檚 financial statement, British American Tobacco Bangladesh reported net revenue amounting Tk 6,937 crore and a net profit of Tk 1,322 crore during the January-September period of the current year.
In its annual report, the company highlighted that Bangladesh was strategically positioned to tap into substantial export opportunities in the tobacco industry, including leaf, cut rag and cigarettes, leveraging its inherent cost advantages and commitment to producing high-quality products.
For the year 2023, British American Tobacco Bangladesh provided a 100 per cent cash dividend. Additionally, at the end of the third quarter of the current year, the company declared a 150 per cent interim cash dividend.
Shares of the multinational company on the Dhaka Stock Exchange rose by 1 per cent, closing at Tk 354.10 on Thursday, the last trading day of the week.
