British American Tobacco posts double-digit earnings
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 28 Jul 2005 18:22
British American Tobacco PLC has posted a 37 percent increase in quarterly earnings driven by profit growth in key regions.
The London-based maker of Lucky Strike, Kent, Dunhill, and Pall Mall cigarettes said that net profit for the three months to June 30 was 542 million pounds ($946 million), up from 396 million pounds a year ago.
However, sales dropped to 2.3 billion pounds ($4.01 billion), from 2.9 billion pounds, reflecting the adoption of International Financial Reporting Standards that do not allow the company to include revenue from its 42 percent stake in US tobacco company Reynolds American Inc. BAT, the world's second-largest cigarette maker, merged its U.S. Brown & Williamson business with Reynolds last year.
"The encouraging profit growth in four of our five regions, the continuing benefit arising from the Reynolds American transaction and the real momentum behind our global drive brands all point to a highly satisfactory year," said Chairman Jan du Plessis.
The company said its global drive brands, Dunhill, Kent, Lucky Strike, and Pall Mall had strong performances in Russia, Romania, France, and Germany. Profit from four of its five regions was up 14 percent.
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...