BAT’s profits ignite

Manufacturing News, Source : TheManufacturer.com
Published : 29 Jul 2005 9:56

British American Tobacco's (BAT) profits have been boosted in the first six months of the year through the manufacture of brands such as Lucky Strike and Dunhill

The cigarette manufacturer has had an exceptional start to the year, with pre-tax profits excluding exceptional items rising by eight per cent to a total of £1.2 billion.

BAT is globally proposing a 10 per cent increase in the value of its half-yearly dividend.

BAT chairman Jan du Plessis said: "In a challenging environment for global consumer goods companies, we are demonstrating our ability to achieve organic volume growth. The encouraging profit growth in four of our five regions, the continuing benefit from the Reynolds American transaction and the real momentum behind our global drive brands all point to a highly satisfactory year.”

Last month BAT announced that it planned to close its last UK manufacturing facility in Southampton. Closure would result in the loss of 530 jobs.

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