BAT released its 9M trading update. Revenue grew organically ytd by +4.2% (consensus +3.1% and +6.8% in Q3) with price/mix at 6%. On reported figures, the revenue declined by 6.5% ytd (-5.9% in H1) due to currency headwinds. Cigarette volumes were down by -1.8% ytd (+0.4% in Q3 vs. consensus -1.6%). Global Drive brands' volume grew +9.5% in Q3 vs. +6% in Q2. BAT’s overall market share progressed by 40bp driven by Global Drive brands which increased market share by 100bp.
28 Oct 2015
Stronger Q3 underlying performance dimmed by currency headwinds
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Stronger Q3 underlying performance dimmed by currency headwinds
British American Tobacco p.l.c. (BATS:LON) | 2,402 312.3 0.5% | Mkt Cap: 53,681m
- Published:
28 Oct 2015 -
Author:
Anna Zyniewicz -
Pages:
2
BAT released its 9M trading update. Revenue grew organically ytd by +4.2% (consensus +3.1% and +6.8% in Q3) with price/mix at 6%. On reported figures, the revenue declined by 6.5% ytd (-5.9% in H1) due to currency headwinds. Cigarette volumes were down by -1.8% ytd (+0.4% in Q3 vs. consensus -1.6%). Global Drive brands' volume grew +9.5% in Q3 vs. +6% in Q2. BAT’s overall market share progressed by 40bp driven by Global Drive brands which increased market share by 100bp.