BAT first-half sales hurt by currency moves | Fin24
  • Cadre Cover

    The ANC is planning to launch a funeral policy scheme for members and supporters.

  • VBS Collapse

    Ramaphosa has acknowledged South Africans' impatience to see justice done.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


BAT first-half sales hurt by currency moves

Jul 29 2015 08:58

London - British American Tobacco, the world's No 2 cigarette company, reported lower revenue for the first half of the year, hurt by currency fluctuations and people cutting back on smoking.

All big tobacco companies are grappling with falling sales in many markets due to increasing regulation, higher taxes, economic weakness and growing health consciousness.

While cigarettes remain a highly profitable business, most of the large players now also sell e-cigarettes, which heat nicotine-laced liquid into an inhalable vapour.

BAT, which makes Dunhill and Lucky Strike cigarettes, said on Wednesday revenue fell 5.9% to £6.40bn.

Excluding the impact of currency moves, revenue rose 2.4%. That compared with a rise of 1.7% in the first quarter.

Volume, which measures the amount of tobacco sold, fell 2.9%.

bat  |  industrial  |  earning reports


Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

Money Clinic

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

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote