BAT benefits as smokers try top brands

LONDON: Growing demand for premium brand cigarettes in developing countries is helping British American Tobacco (BAT) to cope with falling sales in Western markets, higher taxes and a rise in black market trading.

The world's second-biggest cigarette maker, which generates almost 70% of its profits in emerging markets, met forecasts yesterday with a 7% rise in 2012 adjusted earnings as higher profit margins made up for falling volumes.