British American Tobacco Profit Up

newport641 · Wysłany: Czw 23:18, 31 Mar 2011 Temat postu: British American Tobacco Profit Up

British American Tobacco Profit Up
British American Tobacco, the second-largest tobacconist in the world, and the leading tobacco company by revenue in Europe reported last week an increase in full-year profits mainly on sales growth, encouraged by growing sales in developing markets. The rise totaled 6.1 percent in the full year 2010,[link widoczny dla zalogowanych], as Bat sold more Kent and Dunhill cigarettes in Russia. However,[link widoczny dla zalogowanych], the company said sale volumes decreased as some markets struggled with recession and fluctuations.
British American Tobacco increased prices to compensate for a decline in demand and higher taxes as governments tied up budgets and discouraged tobacco consumption. Japan approved a record tax hike last October, increasing the tax by 40 percent,[link widoczny dla zalogowanych], Turkey hiked its cigarette tax by 29 percent in the late 2009 and Australia approved a 25-percent tax increase in April. Therefore,[link widoczny dla zalogowanych], the company increased prices by 5.8 percent in 2010,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], according to MF Global analysts.
“We consider that pricing would remain solid in 2011”,[link widoczny dla zalogowanych], said MF Global Senior Analyst Andy Smith in a statement to investors.
Revenues went up by 4.8 percent to 14.88 billion pounds, the London-based tobacco company stated.