Monday, 18 August 2008

British American Tobacco Uganda

Batu has dropped to Shs1,160 from Shs1,780 at the start of the year.

In March, Batu announced a return to profits, so what's going on? Half year results are due any day now, so we will soon see if the trunaround is still on track. To us it looks like things are on the right track and the decline is market related. After all, Batu is a widely held stock, by Ugandan standards. Batu has about 1,500 retail and institutional shareholders including, Crane Bank, Barclays Uganda Nominees Limited, and National Insurance Corporation.

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