British American Tobacco has shrugged off a slight dip in volumes over the past three quarters to post a healthy rise in group-wide revenues.
Sales across the business were up 7% for the year to date, BAT said today in its latest trading update. Volumes of the company’s four key brands – Dunhill, Lucky Strike, Pall Mall and Kent – were up 8%.
"While the challenging economic conditions continued to impact consumers in some markets, other markets are showing signs of recovery,” said chief executive Nicandro Durante.
“Excise-driven price increases in a few markets will continue to affect industry volumes. However, we have grown our ‘global drive’ brands and achieved good growth in revenue and profits.
“We are on track for another year of good earnings growth."
Higher cigarette prices give BAT profits added puff (27 July 2011)
Imperial Tobacco recoups Spanish losses (21 September 2011)