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.

“The key lever is the price mix,” Kingsley Wheaton, director of corporate and regulatory affairs, said, pointing to a move by some consumers towards its premium brands such as Kent and Dunhill Fine Cut.

BAT, whose brands also include Lucky Strike and Pall Mall, sold 694 billion cigarettes in 2012, down 1.6% on 2011. Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Business , bat results


Next In Business News

LNG demand to rise 25-50% by 2030, fastest growing hydrocarbon - Morgan Stanley
Bursa publicly reprimands JAKS and principal adviser
Serba Dinamik says EY review on-going, gets one-month extension to submit accounts
Cabnet bags RM22.26mil contract in Kulim, Kedah
Southern Cable to transfer listing to Main market on Oct 28
Bursa Malaysia ends near flat on cautious note
Lufthansa CEO sees business travel recovering faster than thought
PNB launches wakaf ASNB service
BNM's international reserves at US$115.6bil as at Oct 15, 2021
Annum partners Greentech IOT for RM62.25mil Sarawak Water Supply subcontract works

Others Also Read