British American Tobacco Plc: Interim Report to 30 June 2008



    LONDON, July 31 /CNW/ -

    
    SUMMARY

    SIX MONTHS RESULTS                    2008         2007           Change

    -  unaudited

       Revenue                       GBP5,457m    GBP4,725m             +15%
       Profit from                   GBP1,724m    GBP1,492m             +16%
        operations
       Basic earnings per               62.48p       52.94p             +18%
        share
       Adjusted diluted                 62.02p       53.51p             +16%
        earnings per share
       Interim dividend                  22.1p        18.6p             +19%
        per share

    -   The reported Group revenue increased by 15 per cent to
        GBP5,457 million as a result of favourable exchange, improved pricing
        and a better product mix. Revenue would have increased by 6 per cent
        at constant rates of exchange.

    -   The reported profit from operations was 16 per cent higher at
        GBP1,724 million with a similar increase if exceptional items are
        excluded. All regions except Latin America contributed to this strong
        result. Profit from operations, excluding exceptional items, would
        have been 7 per cent higher at constant rates of exchange.

    -   Group volumes from subsidiaries were 334 billion, an increase of
        1 per cent, mainly as a result of the good performances by the four
        Global Drive Brands, which achieved overall volume growth of 20 per
        cent with around a third of the rise coming from brand migrations.

    -   Adjusted diluted earnings per share rose by 16 per cent, principally
        as a result of the strong growth in profit from operations and
        favourable exchange movements.

    -   The Board has declared an interim dividend of 22.1p, a 19 per cent
        increase on last year, to be paid on 17 September 2008.

    -   The acquisitions of Tekel and Skandinavisk Tobakskompagni were
        completed on 24 June 2008 and 2 July 2008 respectively and neither
        had any material impact on the profit from operations for the six
        months to 30 June 2008.

    -   The Chairman, Jan du Plessis, commented "These very good interim
        results demonstrate the strength of British American Tobacco's
        business, as a result of the excellent growth from our Global Drive
        Brands, our leading market positions and our broad geographic spread.
        While not immune from the consequences of an economic slowdown, we
        can certainly look to the future with more confidence than most."

    




For further information:

For further information: INVESTOR RELATIONS: Ralph Edmondson 
+44(0)20-7845-1180, Sharon Woodcock +44(0)20-7845-1519; PRESS OFFICE: David
Betteridge/Kate Matrunola/Catherine Armstrong +44(0)20-7845-2888

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BRITISH AMERICAN TOBACCO

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