Published: 27 May 2014

BAT performance remained flat with volumes roughly 1% below mainly due to difficult operating conditions, MD Lovemore Manatsa told the AGM today.
 
"In terms of the update comparing with last year we're flat under the difficult conditions. We're roughly 1% below in terms of our volumes... and normally second half of the year is going to see an upturn in our performance.
 
"We're hoping that in the second half the trading will be much better and hopefully will claw back the 1% in the second half of the year to bring us in line with the target," he said.
 
The MD refused to disclose the numbers stating that they are in a closed period with only one month left to their HY.
 
He noted that Dunhill and Everest are performing ahead of target with Dunhill Switch "doing very well."
 
"Madison; we're just tracking to target, but that's where most of our volumes come from, as you know it's the leading brand in the country, added Manatsa.
 
Commenting on the regional performances Manatsa indicated that "all of them are picking up now including the Eastern part of the country."
 
The AGM approved directors fees amounting to $20 000 and auditors' fees of $75 000. Directors and auditors Pricewaterhouse Coopers were reappointed. 

- zfn

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