Cote d’Ivoire: Ivorian Tobacco Maker Sitab Sees Higher Revenue, Lower Profits in 2025

Societe Ivoirienne des Tabacs (BRVM: STBC) posted higher revenue but lower profits in 2025, as a steep rise in excise duties ate into margins — and then distributed virtually everything it earned back to its British parent.

Revenue rose 25% to 268 billion FCFA ($479.2m), driven by price increases that followed a government-mandated hike in tobacco taxes at the start of the year. But those same taxes pushed up production costs faster than selling prices, squeezing the gross margin. Net profit fell…