British American Tobacco (BAT) Kenya has posted an eight per cent growth in profit in six months to Ksh.2.7 billion.

The half year growth in earnings from Ksh.2.5billion an year earlier is largely attributable to lower costs of operations and financing costs in the period.

The company’s costs of operations fell by 10.1 per cent to Ksh.6.8 billion as finance costs declined to Ksh.81 million in the period from Ksh.126 million last year.

The Central Bank of Kenya (CBK) has registered a step-up in the mopping of the shilling from the market in a week that saw the unit touch a new low of Ksh.107.5 against the US dollar.

As part of its open market operations (OMOs), CBK was in the repo market during the week to source for Ksh.55 billion as the reserve bank sought to rein in high liquidity in the market.

On Friday, the CBK accepted Ksh.22.6 billion out of similar bids by dealers in government securities at an average rate of 3.508 percent.

Kenya Revenue Authority (KRA) tax collections for the year ended June 30 were Ksh.354.1 billion off their original target as the tax man again missed the mark in expected revenue mobilisation.

According to an analysis of the National Treasury statements on actual revenues and net exchequer issues, actual tax receipts stood at Ksh.1.453 trillion against an original estimate of Ksh.1.807 trillion.