British American Tobacco (BAT) cigarette volume declined 0.8 per cent last year, which the tobacco company said was "significantly better" than an estimated 2.3 per cent drop for the industry as a whole.

With volume from TDR of Croatia (acquired in Sept) factored in, BAT cigarette volume dipped 0.5 per cent to 663 billion sticks. Total tobacco volume was down 0.8 per cent, the company said. Contracting markets included Brazil, Italy, Russia and Pakistan. Countries where volume increased included Turkey, Bangladesh, Iran and Kazakhstan.
Reported operating profit was nearly unchanged, rising 0.2 per cent to GBP 4.56 billion (EUR 5.78 billion). BAT said currency movements reduced profit, which fell an adjusted 7.6 per cent, but would have risen 4 per cent at constant currency. Revenue fell 6.2 per cent to GBP 13.1 billion, but would have been GBP 3.6 billion higher at constant currency.
Key market share increased more than 40 basis points, driven by BAT’s global drive brands.