British American Tobacco said higher volumes for its key global cigarette brands boosted nine-month sales, which increased 0.7 per cent despite an overall drop in product shipped.
“The group continued its good performance against a backdrop of adverse exchange rate movements, lower industry volume and instability in some parts of the world. We have grown revenue and market share, our pricing momentum remains strong and our global drive brands continue to perform well,” Chief Executive Officer Nicandro Durante said in a trading statement.
Key brand volume gained 1.9 per cent and market share increased in the top 40 BAT markets. Dunhill volume rose nearly 10 per cent and Pall Mall by about half that amount. Fine-cut tobacco in western Europe increased 3.3 per cent.
Overall cigarette volume fell 3.2 per cent to 501 billion units. Volume equivalent including other tobacco products was down 3 per cent at 521 billion units, representing a 16-billion-unit drop from the first nine months of 2012. Countries BAT highlighted for cigarette declines were Brazil and most of Europe, including Russia and Ukraine. Turkey and Egypt also made the list.