British American Tobacco 9-month Revenue Rises 2.4% At Constant Rates

(RTTNews) - British American Tobacco Plc. (BATS.L, BTI) Wednesday said it performed well during the first nine months of the year.

In a trading statement for the 9 months ended September 30, the firm said revenue declined 9.6 percent at current rates of exchange.

Revenue grew 2.4 percent at constant rates of exchange. This was driven by good pricing, offset by increased competitive pricing activity and growth in the low price segment in some key markets.

Cigarette volume from subsidiaries slid 1 percent to 495 billion, while global Drive Brand cigarette volume grew 6.2 percent.

The firm said the trading environment remains challenging due to continuing pressure on consumer disposable income worldwide and the slow economic recovery in Western Europe.