煙草在線據《觀察家》報道編譯　　烏干達市場仍然是卷煙制造商英美煙草的一個至關重要的市場。

　　其烏干達子公司英美煙草烏干達公司，在其公布了強勁的營業收入和利潤增長后，將向其股東派發自10年前在烏干達證券交易所上市以來的最高股息。在2011年，該公司的收益為2237億先令，比2010年的2122億先令略微增長了5%。

　　據公司秘書Isaac Ampeire稱，收入增長很大程度上得到了卷煙銷量增長了20%的推動，因為該公司最暢銷品牌運動員取得了良好業績。該公司稱，盡管由于目前全球煙草供應過量，出口發貨量下降了23%，但是煙葉出口收入受益于2011年先令的疲軟。

　　2011年，稅后利潤從2010年的111.77億先令增至220億先令。與此同時，營業利潤從2010年的329億先令增至400億先令。“營業利潤增長了22%，反映了收益的增長的影響，以及管理層通過成本節約在降低經營成本增長方面的努力，盡管在2011年面臨著較大的通貨膨脹的壓力，”Ampeire提到。

　　英美煙草烏干達公司仍是政府財政的一個重要貢獻者。在2011年，支付的稅收增長到了640億先令，比上一年增長了13%。董事們建議每股的最終股息為309先令，支付的股息總計為151.6億先令。代扣稅收的股利，將在2012年6月15日之前向2012年4月30日收盤前登記的股東支付。

　　考慮到141先令的中期股息，加上309先令的提議股息，2011年的股息總額為每股450先令，與去年的228先令相比，增長了97%。Ampeire表示，該公司意識到了全球范圍內艱難的經濟活動，但是它不會停止對產品的投資。

　　“不過，我們認識到全球的經濟挑戰對當地經濟造成了沖擊，以及非法貿易、懸而未決的煙草立法、卷煙稅收、先令的波動和全球煙草需求的疲軟所帶來的挑戰，”他說。

　　“在這些挑戰中，我們將繼續投資于我們的品牌和銷售網絡，提高我們農民所種植的煙草的質量。在這些及其它問題上，我們將繼續與相關利益相關者接洽，以促進對我們行業制訂合理的立法和稅收，”他補充說。

Uganda: Batu to Pay Out Its Highest Dividend

The Observer
Mar 27, 2012

　　Uganda remains a crucial market for the cigarette-manufacturer British American Tobacco.

　　Its Uganda subsidiary, British American Tobacco Uganda (BATU), will dish out its highest dividend to shareholders since listing on the Uganda Securities Exchange more than a decade back, after it posted strong revenue and profit growth. The company registered revenue growth of Shs 223.7bn in 2011, up from Shs 212.2bn in 2010, posting a modest 5% increase.

　　According to Isaac Ampeire, the Company Secretary, revenue growth was largely driven by cigarette sales volumes, which went up by 20% after a good performance by the company's most popular brand Sportsman. Tobacco leaf exports benefited from a weaker shilling during 2011 although the export shipment volumes were lower by 23 percent due to the current global over-supply of tobacco, the company said.

　　Profit after tax went up to Shs 22bn in 2011 from Shs 11.177bn in 2010. Meanwhile, operating profit increased to Shs 40bn, up from Shs 32.9bn in 2010. "The 22% improvement in operating profit reflects the impact of the growth in revenue as well as the focused efforts by management in minimizing operational cost increases through productivity savings in spite of significant inflationary pressures in 2011," Ampeire noted.

　　BAT Uganda remained a significant contributor to government's treasury. Tax payments grew to a record Shs 64bn in 2011, an increase of 13 percent over the previous year. The directors have recommended a final dividend of Shs 309 per share, which amounts to Shs 15.16bn. The dividend which is subject to withholding tax will be paid before June 15, 2012 to shareholders on the register at the close of business on April 30, 2012.

　　Taking into account the interim dividend of Shs 141, together with the proposed dividend of Shs 309, the total dividend in respect of 2011 is 450 per share an increase of 97 percent compared to Shs 228 given out last year. Ampeire says the company is mindful of the tough economic events globally, but that it will not stop investing in its products.

　　"We are, however, cognisant of the global economic challenges that have a knock-on impact on the local economy, coupled with the challenges posed by illicit trade, pending tobacco legislation, cigarette taxation, the shilling volatility and continued ìsoft?e demand for tobacco globally," he said.

　　"Amidst these challenges, we will continue to invest behind our brands and distribution network and improve the quality of the tobacco grown by our farmers. We shall continue engaging with the relevant stakeholders on these and other issues in an effort to promote sensible legislation and taxation with regard to our industry," he added.