Tax increases a threat to our business in Kenya, says BAT

Cigarette maker British American Tobacco Kenya #ticker:BAT has said further increases in excise duty could deal a hard blow on its profitability by putting its products out of consumers’ reach.

The Nairobi Securities Exchange-listed cigarette maker which on Friday reported a 21.2 per cent drop in net profit to Sh3.3 billion said “unpredictable” tax increases are a threat to its Kenya business.