BAT Zimbabwe reports drop in volumes

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Harare - British American Tobacco (BAT) Zimbabwe on Tuesday reported a 23% drop in revenue to $16.8m following a 21% decrease in sales volumes as economic fundamentals continue to wane.

Cigarette consumption is normally regarded as inelastic, but this has not been the case in Zimbabwe where disposable incomes are not enough to cover the necessities.  

Analysts said the 21% drop in volumes points to a distressed consumer, something which was confirmed by managing director Clara Mlambo, who said the trading environment remained constrained during the period.

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