Trading update
British American Tobacco performed well in the nine months to the end of September 2011 with the Group increasing overall market share across its top 40 markets and with continued growth in the Global Drive Brands. Group volumes were slightly lower than last year as a result of the industry volume decline, although there are signs that this is moderating.
Group revenue for the nine months, on an organic basis and at constant rates of exchange, grew by 7 per cent, driven by continued good pricing.
Nicandro Durante, Chief Executive, commented "While the challenging economic conditions continued to impact consumers in some markets, other markets are showing signs of recovery. Excise-driven price increases in a few markets will continue to affect industry volumes. However, we have grown our Global Drive Brands and achieved good growth in revenue and profit. We are on track for another year of good earnings growth."
