KUALA LUMPUR, Oct 29 — Shares of British American Tobacco (Malaysia) Bhd (BAT) rose 2.77 per cent during the mid-morning trade after it reported higher earnings for its third quarter of financial year 2021 ended Sept 30, 2021 (Q3 2021).
As of 11.35am, BAT surged 60 sen to RM15.04, with 775,500 shares traded.
The tobacco company's net profit rose to RM78.68 million in Q3 2021 versus RM63.74 million in the same period a year earlier as it continued its cost optimisation initiatives and invested in its strategic brands to deliver its growth initiatives.
Revenue for the quarter, however, declined to RM613.02 million from RM627.52 million year-on-year.
BAT declared a third interim dividend of 26 sen per ordinary share, amounting to RM74.24 million for the financial year ending Dec 31, 2021. — Bernama
