BAT aims for new markets as smuggling dents growth

first_img whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com KCS-content Tags: NULL Monday 28 March 2011 8:36 pm BAT aims for new markets as smuggling dents growth center_img Share BRITISH American Tobacco (BAT) yesterday said a rise in cigarette smuggling and the wider decline in smoking across the developed world continue to press down on growth.Group sales by volume fell three per cent during 2010, though price rises more than offset the decline to deliver a five per cent revenue rise to £14.9bn, BAT said in its annual report. The firm said the “denormalisation” of smoking caused by increasing regulation is likely to continue hitting growth, though BAT’s market share has increased in several areas. A rise in illicit tobacco trade – now making up 12 per cent of sales by volume according to BAT – has also impacted on sales. However, the firm will restart a £750m share buyback this year as it is confident that the recovering global economy will bring in revenues.Paul Adams, who was chief executive until 28 February, made a total of £4.1m in 2010, taking home a £2.2m bonus alongside a £1.27m salary as well as other long-term benefits. New chief Nicandro Durante made £2.4m last year, when he served as chief operating officer. Outside the US, the firm is fighting more than 500 lawsuits linked to medical problems. Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNight DailyHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeNight DailyBetterBe20 Stunning Female AthletesBetterBeNews SharperGrab A Tissue Before You See Richard Simmons At 72News SharperThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today whatsapplast_img

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