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 Wysłany: Sob 12:40, 26 Mar 2011 Temat postu: British American Tobacco Profit Up |
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British American Tobacco Profit Up
British American Tobacco, the second-largest tobacconist in the world, and the leading tobacco company by revenue in Europe reported last week an increase in full-year profits mainly on sales growth,[link widoczny dla zalogowanych], encouraged by growing sales in developing markets. The rise totaled 6.1 percent in the full year 2010,[link widoczny dla zalogowanych], as Bat sold more Kent and Dunhill cigarettes in Russia. However,[link widoczny dla zalogowanych], the company said sale volumes decreased as some markets struggled with recession and fluctuations.
British American Tobacco increased prices to compensate for a decline in demand and higher taxes as governments tied up budgets and discouraged tobacco consumption. Japan approved a record tax hike last October, increasing the tax by 40 percent,[link widoczny dla zalogowanych], Turkey hiked its cigarette tax by 29 percent in the late 2009 and Australia approved a 25-percent tax increase in April. Therefore,[link widoczny dla zalogowanych], the company increased prices by 5.8 percent in 2010,Imperial Tobacco sales growth in Emerging markets, according to MF Global analysts.
“We consider that pricing would remain solid in 2011”,[link widoczny dla zalogowanych], said MF Global Senior Analyst Andy Smith in a statement to investors.
Revenues went up by 4.8 percent to 14.88 billion pounds, the London-based tobacco company stated.
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