BAT books first profit
JAKARTA (JP): Publicly listed cigarette producer PT BAT Indonesia booked a net profit of Rp 64.75 billion (US$7.8 million) during the first semester of this year, up from Rp 54.07 billion in the same period last year.
The company's first semester financial report said that sales declined to Rp 1.025 trillion from Rp 1.105 trillion last year.
BAT had earlier announced that sales of the company's cigarette brands for the low and middle market segment dropped sharply due to higher excise tax.
BAT said that because of the decline in sales, the company's market share dropped to 7.2 percent from 10.9 percent early this year.(bkm)