British American Tobacco (BAT) volume declined 1 per cent in the first three months of 2014, a percentage drop lower than other major international cigarette makers reporting first-quarter data.

Sales fell 12 per cent due to foreign exchange developments that had a negative influence on the balance sheet. Stripped of currency movements, revenue decline 2 per cent, the company said in a trading statement.
Cigarette volume rose in emerging markets and fell in western Europe. Volume of BAT’s five global brands rose 6.3 per cent. Cigarette volume declined 2 billion sticks to 158 billion sticks, BAT said. Total tobacco shipment volume dipped 1.1 per cent.
“Compared to last year, the timing of price increases will be more weighted towards the second half of the year. This, together with transactional exchange rate impacts which, at today’s rates, will moderate over the year, means that results will be more skewed to the second half than in previous years,” BAT said.
Philip Morris International in its first-quarter report said cigarette volume fell 4.4 per cent. Japan Tobacco International reported a 5.4 per cent decline.