BAT released its H1 update. Revenue at constant FX was up 7.8% (cons. 7%) and 4.2% on current FX. Price/mix stood at approx. 4%. Cigarette volumes were up +2.1% on an organic basis (cons. at 2.8% vs. 2.4% in Q1). Global Drive Brands volumes were up +10.8% (better Q2 with an 80bp market share gain). The underlying operating margin was up 50bp and -240bp on reported figures (36.8% in H1 vs. cons. 37.5%). The group’s market share increased by +30bp. The company highlighted excellent progre
28 Jul 2016
Good top-line growth, profitability remains negatively impacted by currency movements
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Good top-line growth, profitability remains negatively impacted by currency movements
British American Tobacco p.l.c. (BATS:LON) | 2,408 0 0.0% | Mkt Cap: 53,786m
- Published:
28 Jul 2016 -
Author:
Anna Zyniewicz -
Pages:
2
BAT released its H1 update. Revenue at constant FX was up 7.8% (cons. 7%) and 4.2% on current FX. Price/mix stood at approx. 4%. Cigarette volumes were up +2.1% on an organic basis (cons. at 2.8% vs. 2.4% in Q1). Global Drive Brands volumes were up +10.8% (better Q2 with an 80bp market share gain). The underlying operating margin was up 50bp and -240bp on reported figures (36.8% in H1 vs. cons. 37.5%). The group’s market share increased by +30bp. The company highlighted excellent progre