LONDON, July 31 /CNW/ -
SIX MONTHS RESULTS 2008 2007 Change
Revenue GBP5,457m GBP4,725m +15%
Profit from GBP1,724m GBP1,492m +16%
Basic earnings per 62.48p 52.94p +18%
Adjusted diluted 62.02p 53.51p +16%
earnings per share
Interim dividend 22.1p 18.6p +19%
- 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