BAT Sales Volumes Up

Source from:  TJI 04/27/2012

British American Tobacco (BAT) reported a 0.7 per cent rise in underlying first-quarter volumes, driven by growth in its major brands. This rise compares with a 0.4 per cent fall in first-quarter underlying volumes in 2011, reports Reuters. Overall group volumes rose 1.3 per cent to 166 billion cigarettes while price rises pushed underlying revenues up 6 per cent. Chief Executive Nicandro Durante said the group achieved good growth in revenue, with continued pricing momentum, but currency headwinds had adversely affected results. Its top four brands - Kent, Dunhill, Lucky Strike and Pall Mall - saw volumes rise 6 per cent, led by Lucky Strike which was up 26 per cent following strong growth in Germany, Spain, Poland, France and Chile. BAT made 705 billion cigarette last year. Enditem