Despite The Economic Climate, Tobacco Companies' Results Remain Positive Overall

摘要

British American Tobacco shrugged off "credit crunch" worries in the nine months to September, pushing up sales 19% to ￡8.7bn. Director of corporate and regulatory affairs Michael Prideaux described the company as "recession resilient" rather than recession-proof. Operating profit at BAT rose 18% to ￡2.7bn with pre-tax profits up from ￡2.4bn to ￡2.8bn, both aided by the acquisitions of Tekel in Turkey and the Scandinavian snus and cigarette operations of Skandinavisk Tobakskompagni Group where volumes rose 4% to 524bn sticks, due to acquisitions plus good growth in Romania, Pakistan, Bangladesh, Uzbekistan, Poland, Saudi Arabia and Egypt partly offset by falls in Italy, Germany, Russia, Czech Republic, Canada, South Africa, Vietnam, Mexico and Venezuela.