Nov 6 2024, 12:44 AM, updated 2y ago
British American Tobacco (BAT),
British American Tobacco Malaysia Bhd
4162
Philip Morris International (PMI),
Altria Group,
Japan Tobacco International (JTI),
Imperial Brands.
. These companies, with their extensive resources, broad product portfolios, and strategic market approaches, play a pivotal role in shaping the dynamics of the global e-cigarette market.
BAT Malaysia records higher net profit of RM67.91mil in 3Q on lower opex
Wednesday, 30 Oct 2024
British American Tobacco (M) Bhd managing director Nedal Salem
KUALA LUMPUR: British American Tobacco (M) Bhd (BAT Malaysia) said it registered a higher bottomline in the third quarter of the year as its operating expenses were significantly reduced from the previous year.
In a statement, the tobacco and nicotine products manufacturer said it had reduced operating expenses by 28.9% during the quarter ended Sept 30, 2024, as compared to the year-ago quarter when the group had made a substantial investment in the launch of the Vuse e-cigarette brand in Malaysia.
It said its profit from operations grew 17.1% to RM99.5mil as compared to the same quarter last year, despite a dip in gross profit margin by 1.3% due to the lower margin of vapour products.
For the quarter under review, BAT Malaysia's net profit was RM67.91mil, higher than RM59.54mil in the year-ago quarter, which translates to an earnings per share of 23.8 sen compared to 20.9 sen previously.
The group said revenue was slightly higher at RM609.95mil compared to RM606.8mil, due to an improved product mix and increased sales from vapour products, partially offset by higher investment.
For the nine-months period, however, BAT Malaysia's net profit slipped to RM134.18mil from RM147.38mil in the year-ago period, while revenue was lower at RM1.66bil compared to RM1.68bil previously.
The group declared a third interim dividend of 22 sen per share, going ex on Nov 15, 2024, and payable on Nov 27, 2024.
BAT Malaysia managing director Nedal Salem said the financial performance in 3QFY24 was encouraging, especially with the progress made by Vuse in steering the group's growth in Malaysia.
"Our investments to-date are showing promising results as it has led to the group having a better product mix and increase in volume.
"The group remains optimistic that its performance will continue to strengthen, backed by its multi-category portfolio as the group aims to continue growing Vuse," he said.
On the government's Budget 2025 announcement of additional allocations to enforcement authorities to address smuggling activities, he said the tobacco black market has been on a decline since 2020 but remains high at 54.4% in July 2024.
"Apart from the proactive work done on the enforcement front to curb the supply, the government should also develop solutions that would address the issues to curb demand of black-market products," he said.
BAT’s Disposable Vape Enters Malaysian Market
Tobacco giant BAT has launched its Vuse disposable vape with up to 1,500 puffs in Malaysia, priced at RM22, after the government delisted liquid nicotine. Vuse is sold nationwide on Shopee and Lazada, and in convenience stores in Klang Valley and Penang.
Watermelon ice flavour for Vuse GO, a disposable vape by British American Tobacco (BAT) with 3 per cent nicotine strength. Screengrab from Vape Malaysia's Facebook post on August 1, 2023.
KUALA LUMPUR, August 3 – British American Tobacco (BAT) has launched its disposable vape product, Vuse, in Malaysia, after the government legalised e-cigarettes without any regulations.
According to the tobacco giant’s Vuse Malaysia Facebook page, Vuse GO MAX – a disposable vape device with up to 1,500 puffs retailing at RM22 – was launched in the Malaysian market last July 31.
Vuse Malaysia’s website shows seven different flavours for the Vuse GO disposable vape that has 3 per cent nicotine strength: mango, strawberry, mint, blueberry, tobacco, watermelon, and grape.
The website also stated that Vuse is available at convenience stores and petrol stations – such as 7-Eleven, myNEWS, and Shell – in the Klang Valley and Penang only.
Nationwide, BAT Malaysia’s disposable vape product is available on online shopping platforms, Shopee and Lazada.
The international tobacco company’s move to enter its vape product into the Malaysian market came after the government declassified liquid nicotine as a scheduled poison last March 31.
Health Minister Dr Zaliha Mustafa’s action in removing liquid and gel nicotine from the Poisons List effectively legalised nicotine vape for everyone, including minors aged below 18, as there is currently no legislation or regulation regulating vape or e-cigarettes.
Despite boasting a two-thirds majority in Parliament, the Pakatan Harapan-Barisan Nasional unity government failed to secure passage of the Control of Smoking Products for Public Health Bill 2023 in the last Dewan Rakyat meeting.
Instead, the government referred the bill to the Health parliamentary special select committee, chaired by Kuala Selangor MP Dzulkefly Ahmad, immediately after first reading last June.
Health non-governmental organisations, led by the Malaysian Council for Tobacco Control (MCTC), filed suit last month to challenge the health minister’s order that gazetted the exemption of liquid nicotine from the Poisons Act 1952. Hearing is set in the High Court here for August 14.
This post has been edited by plouffle0789: Nov 6 2024, 10:51 AM
Quote
0.0163sec
0.13
5 queries
GZIP Disabled