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Share Name | Share Symbol | Market | Type |
---|---|---|---|
British American Tobacco PLC | NYSE:BTI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.02 | 0.07% | 29.82 | 30.00 | 29.69 | 29.98 | 2,426,573 | 01:00:00 |
By Saabira Chaudhuri
British American Tobacco PLC reported Thursday stronger profit for 2016, helped by higher revenue and favorable currency moves.
BAT reported annual profit of 4.65 billion pounds ($5.8 billion), compared with GBP4.29 billion pounds in 2015, on revenue that was 13% higher at GBP14 billion.
The maker of Lucky Strike and Dunhill cigarettes said the volume of cigarettes sold declined 0.8% on an organic basis compared with a decline of 0.5% a year earlier and against an estimated industry decline of 3%.
BAT last month agreed to take full control of Reynolds American Inc. in a $49.4 billion deal. Buying Reynolds will give the London-based tobacco giant direct access to the U.S., 13 years after it merged its U.S. business Brown & Williamson with R.J. Reynolds Tobacco Holdings Inc. to form Reynolds American. BAT has maintained a 42% stake in Reynolds ever since, with a 10-year standstill agreement preventing it from increasing this.
-Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
(END) Dow Jones Newswires
February 23, 2017 02:37 ET (07:37 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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