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London - British American Tobacco PLC said on Wednesday that cigarette sales volumes rose 2% in the first nine months, thanks to acquisitions in Denmark and Turkey. Not counting those deals, though, BAT sales fell.
The company said volume growth to 533 billion cigarettes was driven by last year's acquisition of Skandinavisk Tobakskompagni in Denmark and Tekel in Turkey. The company reported "strong" revenue growth in constant currency and reported terms but released no figures.
Excluding the impact of acquisitions, volume was down 3%, the company said.
Trading conditions were "deteriorating", BAT said, "with industry volumes lower in a number of markets including Japan, Russia, Brazil, Italy and South Africa, as well as a decline in the premium segment in the third quarter".
Volume was flat in Asia-Pacific, down 9% in the Americas, up 10% in Western Europe, up 19% in Africa and the Middle East and down 7% in Eastern Europe.
Volume for BAT's four "global drive brands" - Dunhill, Lucky Strike, Pall Mall and Kent - rose 2%, the company said.
- AP