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Cigarette producer BAT Kenya profit rises

10 July 2014, 17:13

Nairobi - British American Tobacco BAT Kenya posted a 14 percent jump in first-half pretax profit to 2.56 billion shillings ($29.22 million), thanks to higher revenue from contracts to manufacture cigarettes for other companies.

The firm, a unit of London-listed British American Tobacco , said gross turnover rose 11 percent to 16.85 billion shillings due to an increase in the manufacturing orders.

The company makes cigarettes for other firms, as well as its own-brand cigarettes. Most of its manufacturing contracts are from the Democratic Republic of the Congo.

It spent 500 million shillings during the period to expand capacity at its Nairobi factory in order to be able to handle the extra orders.

Earnings per share rose to 17.93 shillings from 15.66 shillings, BAT Kenya said.

The region's biggest cigarette maker held its interim dividend at 3.50 shillings per share compared with the same period in 2013, it said in a statement.

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