Annual Review &Highlights 2004 Highlights Board of Directors Notice of the Annual General Meeting Chairman's Review Managing Di
GraphicalHighlights 2004 2.0 1.8 1.6 1.4 c co V1 1.2 1.0 0.8 0.6 0.4 0.2 0.0 0 L l/) 2002 2002 Years Gross turnover increased b
Board of Directors from Left; Allan Ngugi Non - Executive Director, Philip lopokoiyit Michael Wanyoike Non - Executive Director
Notice of AnnualGeneral Meeting 2005 NOTICE IS HEREBYGIVEN that the Fifty-Third Annual General Meeting of British American Toba
Chairman's Review~ .aanof a ya Mwenyekiti MAZINGIRA YA KIBIASHARA Kufufuka kwa uchumi wa Kenya ku/iende/ea kukua mwaka wa 2004,
Chairman's PERFORMANCE Spurred by the ongoing revival of the economy and price stability, the overall domestic tobacco market s
Chairman's ReviewTaarifaya Mwenyekiti Principles in consultation with managers from our businesses, as well as with external st
Chairman's ReviewTaarifaya Mwenyekiti OUTLOOK Future prospects for our business look promising given the level playing field pr
Managing Director'SReport Company share of the market continued to show very encouraging growth during the year, gaining three
Stancom sponsorship. Our prices to farmers increased driven by the delivery of good quality tobaccos justifying our absolute fo
LeafG rowi n9 In the 2004 season, your company supported over 8,900 farmers who grew nearly 3.6 million kg's of green leaf toba
Manufacturing & Supply Chain The year 2004 was one of the most exciting for manufacturing in recent years. Installation of a ne
Marketing Activities and price. Our consumers have demonstrated their informed preferred brand choice in your superior quality
despite extreme pressure from low priced competing offers. Key factors in this achievement are attributed to intense distributi
Corporate &Regulatory Affairs In 2004, your company became the first in Kenya to publish a "Corporate Social Report" .This stak
Board of DirectorsProfile Evanson Mwaniki Chairman; Appointed a Non-Executive Director of the Company in April 1995 and has bee
CorporateGovernance CORPORATE GOVERNANCE The Company is committed to the highest standards of corporate governance and adheres
CorporateGovernance "the Company believes that the most important form of corporate governance comes from within, with external
Sharehold i ngStructure Major Shareholders Shareholder Molensteegh Invest BV . . . No. of Shares 60,000,000 .20,000,000 996,666
Directors Report &Financial Statements 2004 Page Directors and Advisors Directors' Report Statement of Directors' Responsibilit
Directors &Advisors Mr. E Mwaniki (Chairman) Mr. S A Welford (Managing Director) Mr. P R Lopokoiyit (Finance Director) Mr. K Ki
Directors ReportRipoti ya Wakurugenzi The directors submit their report together with the audited financial statements for the
Statement of DirectorsResponsibilities The Companies Act requires the directors to prepare financial statements for each financ
AuditorsReport We have audited the financial statements of British American Tobacco Kenya Limited for the year ended 31 Decembe
Consolidated Profit &loss Account for the year ended 31 December 2004 Notes 2003 Shs'OOO Gross turnover Excise duty and value a
Consolidated Notes CAPITAL EMPLOYED Share capital Share premium Revaluation surplus Retained earnings Proposed dividends Shareh
CompanYBalance Sheet Notes CAPITAL EMPLOYED Share capital Share premium Revaluation surplus Retained earnings Proposed dividend
Consolidated Statement of Changes in Equity for the year ended 31 Decemqer 2004 Notes Share capital Shs'OOO Year ended 31 Decem
Company Statement of Changes in Equity For the year ended 31 December 2004 Notes Share capital Shs'OOO 1,000,000 Share Revaluat
Consolidated CashFlow Statement 2003 Shs'OOO Operating activities Cash generated from operations Interest received Interest pai
Accountingpolicies The principal accounting policies adopted in the preparation of these financial stated. statements are set o
Accountingpolicies (continued) Depreciation is calculated on the straight-line basis to write down the cost of each asset, or t
Accountingpolicies (continued) The company operates two defined contribution retirement benefit schemes for all its employees.
British American Tobacco Kenya Limited is incorporated in Kenya under the Companies Act as a public limited liability company a
Notes(continued) 2003 Shs'OOO The following items are included within staff costs: Retirement benefit costs: - Defined contribu
Notes(continued) Basic earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted
Notes(continued) Contributions to the provident funds are determined by the rules of the scheme and amounted to Shs 34,714,000
Notes{continued) 2003 Shs'OOO At start of year Amortisation for the year 219 (4) 223 (4) Raw materials and consumables Finished
Notes(continued) For the purposes of the cash flow statement, cash and cash equivalents comprise cash in hand, deposits held on
Notes(continued) The ultimate parent and controlling party of the group is British American Tobacco pic, incorporated in Englan
Form of Proxy To The Secretary British American Tobacco Kenya Limited POBox 30000 - 00100 Nairobi INVe or failing him, the Chai
Top Management Team From top row, left to right. Simon Welford (Managing Director) • Keli Kiilu (Corporate and Regulatory Affai
BR1T1SH AMER1CAN TOBACCO
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BRITISH AMERICA
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Annual Review &Highlights 2004 Highlights Board of Directors No
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GraphicalHighlights 2004 2.0 1.8 1.6 1.4 c co V1 1.2 1.0 0.8 0.
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Board of Directors from Left; Allan Ngugi Non - Executive Direc
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Notice of AnnualGeneral Meeting 2005 NOTICE IS HEREBYGIVEN that
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Chairman's Review~ .aanof a ya Mwenyekiti MAZINGIRA YA KIBIASHA
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Chairman's PERFORMANCE Spurred by the ongoing revival of the ec
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Chairman's ReviewTaarifaya Mwenyekiti Principles in consultatio
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Chairman's ReviewTaarifaya Mwenyekiti OUTLOOK Future prospects
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Managing Director'SReport Company share of the market continued
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Stancom sponsorship. Our prices to farmers increased driven by
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LeafG rowi n9 In the 2004 season, your company supported over 8
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Manufacturing & Supply Chain The year 2004 was one of the most
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Marketing Activities and price. Our consumers have demonstrated
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despite extreme pressure from low priced competing offers. Key
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Corporate &Regulatory Affairs In 2004, your company became the
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Board of DirectorsProfile Evanson Mwaniki Chairman; Appointed a
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CorporateGovernance CORPORATE GOVERNANCE The Company is committ
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CorporateGovernance "the Company believes that the most importa
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Sharehold i ngStructure Major Shareholders Shareholder Molenste
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Directors Report &Financial Statements 2004 Page Directors and
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Directors &Advisors Mr. E Mwaniki (Chairman) Mr. S A Welford (M
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Directors ReportRipoti ya Wakurugenzi The directors submit thei
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Statement of DirectorsResponsibilities The Companies Act requir
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AuditorsReport We have audited the financial statements of Brit
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Consolidated Profit &loss Account for the year ended 31 Decembe
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Consolidated Notes CAPITAL EMPLOYED Share capital Share premium
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CompanYBalance Sheet Notes CAPITAL EMPLOYED Share capital Share
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Consolidated Statement of Changes in Equity for the year ended
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Company Statement of Changes in Equity For the year ended 31 De
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Consolidated CashFlow Statement 2003 Shs'OOO Operating activiti
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Accountingpolicies The principal accounting policies adopted in
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Accountingpolicies (continued) Depreciation is calculated on th
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Accountingpolicies (continued) The company operates two defined
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British American Tobacco Kenya Limited is incorporated in Kenya
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Notes(continued) 2003 Shs'OOO The following items are included
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Notes(continued) Basic earnings per share is calculated by divi
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Notes(continued) Contributions to the provident funds are deter
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Notes{continued) 2003 Shs'OOO At start of year Amortisation for
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Notes(continued) For the purposes of the cash flow statement, c
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Notes(continued) The ultimate parent and controlling party of t
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Form of Proxy To The Secretary British American Tobacco Kenya L
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Top Management Team From top row, left to right. Simon Welford
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BR1T1SH AMER
African Annual Reports
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