British American Tobacco Q1 Revenue Rises - Quick Facts

(RTTNews) - British American Tobacco plc (BATS.L, BTI) reported that its first-quarter revenue grew 1.7 percent from the previous year on current exchange rates, while it rose 7.5 percent at constant rates of exchange.

The company noted that movements in the majority of the Group's key trading currencies relative to the same period last year adversely impacted reported revenue. Revenue increased 6.1 percent on an organic, constant rate basis.

Cigarette volume from subsidiaries for the three-month period grew by 3.6 percent to 158 billion, with organic volume up 2.4 percent. Excluding the effect of inventory movements in the comparator period, like for like volume was up by 1.1 percent.

Nicandro Durante, Chief Executive, said, "Our momentum has continued with market share in our Key Markets increasing by a further 20 bps. Cigarette volume was up 3.6%, with our GDBs growing by 10.5%."

Looking ahead, British American Tobacco noted that the trading environment remains challenging, notably due to the continued impact of adverse exchange rates at a transactional level which is estimated to be a profit headwind of approximately 7 percent, with a consequent impact on operating margin.