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British American Tobacco Zimbwe H1 profit climbs 39.3% YOY

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British American Tobacco Zimbwe H1 profit climbs 39.3% YOY

British American Tobacco Zimbabwe (Holdings) Ltd said its first-half normalized net income was 30 cents per share, an increase of 38.3% from 21 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.1 million, a gain of 39.3% from $4.4 million in the year-earlier period.

Total revenue rose 7.5% on an annual basis to $21.8 million from $20.3 million, and total operating expenses declined 9.2% on an annual basis to $12.1 million from $13.3 million.

Reported net income grew 43.3% year over year to $7.6 million, or 37 cents per share, from $5.3 million, or 26 cents per share.