• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

BAT expecting good year

Jul 25 2012 09:31 Reuters

Company Data

BRITISH AMERICAN TOBACCO PLC [JSE:BTI]

Last traded 609.41
Change 0.56
% Change 0.00
Cumulative volume 450894
Market cap 1.23tr

Last Updated: 24/04/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

BAT launches budget tobacco brand

BAT gains from price hikes as Q3 rebounds

Upbeat BAT posts profit hike

BAT boosts Reinet NAV

BAT makes Colombian acquisition

BAT challenges Australian packaging laws

 

London - JSE-listed British American Tobacco [JSE:BTI] (BAT) expects good earnings growth this year despite the strong pound holding back its performance at the half-year after the world’s No 2 cigarette maker gained from price rises and strong emerging markets.

The London-based group, which makes Kent, Dunhill, Lucky Strike and Pall Mall cigarettes, said on Wednesday its half-year volumes were flat at 344 billion cigarettes while price rises pushed up its underlying sales by 4%.

Chairperson Richard Burrows said despite global economic uncertainty and the adverse impact of exchange rates the group had performed well and he was upbeat for the full year.

“The underlying business continues to perform well and we are confident of another year of good earnings growth,” he said.

BAT, which made 705 billion cigarette last year, has seen smoking levels decline in Western Europe and North America, but has offset this by pushing up prices and seeing growth in emerging markets like Brazil, Mexico, Romania and Russia.  

The company posted a 7% rise in half-year adjusted diluted earnings per share to 102.4 pence, in line with a consensus forecast of 102.5 pence according to a company-compiled survey of analysts.

The half-year dividend, set at one third of 2011’s full year level, rose 11% to 42.2 pence a share.

Rival Imperial Tobacco reported on Tuesday that price rises offset volume falls as it lifted its revenues by three percent in the nine-month to end-June after it suffered in recession-hit Spain as well as Ukraine and Poland.  

* Follow Fin24 on Facebook, Twitter and Google+.

 
british american tabacco

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Ramphele: ANC can be defeated

The African National Congress can be defeated, Agang SA leader Mamphela Ramphele has told supporters in Temba near Hammanskraal.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...