BAT hit by tough times in Brazil and Japan, remains optimistic on future
October 25, 2012, 12:10 am TWN
LONDON -- British American Tobacco (BAT), the world's second-biggest cigarette maker, saw nine-month volumes fall after weaker demand in markets including Brazil and Japan.
The British maker of Dunhill, Kent, Lucky Strike and Pall Mall cigarettes, said volumes were down 1.2 percent from subsidiaries to 517 billion, while organic volumes were 1.8-percent lower as a result of the overall industry decline.
BAT said on Wednesday it still expected another year of good earnings growth after nine-month revenue grew 4 percent at constant currency, helped by good pricing.