Volume of the four major cigarette brands at British American Tobacco (BAT) rose 9 per cent in 2011, but overall production at 705 billion sticks dipped 0.4 per cent, the company said in a statement.
The four ‘Global Drive Brands’ achieved excellent volume growth, BAT said today in its 2011 earnings statement. Dunhill volumes were slightly higher, Kent was up 10 per cent, Lucky Strike 14 per cent and Pall Mall grew by 11 per cent.
Operating profit increased 9 per cent to GBP 4.7 billion (EUR 5.6 billion) and earnings per share, diluted and adjusted, rose 11 per cent. BAT said it would raise its shareholder dividend by a similar 11 per cent to 126.5 pence for the year. Sales rose 3 per cent to GBP 15.4 billion.
“While economic uncertainty continues, our operating environment improved during 2011. Our results for the year are driven by revenue growth, an improved operating margin, and growth in market share due to our successful brands, enhanced by the roll-out of product and packaging innovations, said BAT Chairman Richard Burrows. (ci)