Pakistan Tobacco Company (PSX: PAKT), the industry leader continues to post growth in earnings in double digits despite the economic headwinds and deteriorating industry dynamics post the successive FED hikes in the last year and a half. As per its latest earnings announcement sent via the bourse, Pakistan Tobacco Company (PSX: PAKT) closed the first half ended June 30, 2023, with double-digit growth in its net profits when compared with the same period last year. While the earnings growth momentum continues, the sales growth has seemingly come down.
A recent study has brought to light a concerning trend in Pakistan, revealing that approximately 72% of women in the country are regular cigarette smokers.
Pakistan Tobacco Company Limited (PSX: PAKT) was incorporated in Pakistan as a public limited company in 1947. The company is a subsidiary of British American Tobacco (Investments) Limited, UK while British American Tobacco p.l.c, UK is the ultimate parent company of PAKT. The principal activity of the company is the manufacturing and sale of cigarettes/tobacco.
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