British American Tobacco: Quarterly Report to 30 September 2007



    LONDON, Nov. 1 /CNW/ -

    
        Summary

        NINE MONTHS RESULTS                 2007            2006      Change
        - unaudited

        Revenue                        GBP 7,312m      GBP 7,251m         +1%
        Profit from                    GBP 2,304m      GBP 1,944m        +19%
        operations
        Adjusted diluted
        earnings per share                 82.00p          75.00p         +9%
    

    - The reported profit from operations was 19 per cent higher at
GBP2,304 million, or 8 per cent higher if exceptional items are excluded.
However, profit from operations, at comparable rates of exchange and excluding
exceptional items, would have been 14 per cent higher, with all regions
contributing to this strong result.
    - Group volumes from subsidiaries were 504 billion, a decrease of 1 per
cent, mainly as a result of the high level of trade buying in some markets at
the end of 2006, supply chain disruptions in the Middle East and the loss of
StiX in Germany. In the third quarter, volumes rose slightly over the
comparable period last year. The four global drive brands achieved an overall
volume growth for the nine months of 10 per cent, which led to share
improvements in many markets. The reported Group revenue increased by 1 per
cent to GBP7,312 million but, at comparable rates of exchange, would have
increased by 6 per cent as a result of more favourable pricing and an
improving product mix.
    - Adjusted diluted earnings per share rose by 9 per cent, principally as
a result of the strong operating profit performance, partly offset by the
adverse impact from foreign exchange movements. Basic earnings per share were
higher at 82.67p (2006: 70.11p).
    - The Chairman, Jan du Plessis, commented "The Group's spread of
developed and developing markets has continued to serve shareholders well,
with all regions contributing to the strong results at comparable rates of
exchange. There were improvements in both product mix and share in a broad
range of key markets.
    Although the momentum of the first six months has been maintained in the
third quarter, we do still expect the growth in profit from operations at
comparable rates of exchange to slow in the fourth quarter, as a result of
generally higher marketing spend and the timing of price increases in Brazil."





For further information:

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

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