February 23, 2017 / 7:26 AM / 5 months ago

BAT reports slight increase in full-year sales volume

1 Min Read

Feb 23 (Reuters) - British American Tobacco, the second-largest international tobacco company, reported a slight increase in full-year cigarette and tobacco sales volumes on Thursday.

The maker of Dunhill and Lucky Strike cigarettes said cigarette volume grew 0.2 percent to 665 billion in 2016, adding that although it fell 0.8 percent on an organic basis as more people around the world cut back on smoking, it outperformed the industry which estimated an about 3 percent decline.

Revenue grew 12.6 percent to 14.751 billion pounds ($18.35 billion), helped by the weakness of the British pound. Organic revenue was up 6.9 percent, driven by good pricing.

BAT is preparing to buy its U.S. peer Reynolds American Inc for $49.4 billion, a takeover that will create the world's biggest listed tobacco company. ($1 = 0.8037 pounds) (Reporting by Esha Vaish in Bengaluru and Martinne Geller in London. Editing by Jane Merriman)

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