July 31, 2020 / 6:18 AM / 6 days ago

BAT first-half profit tops estimates on market demand

July 31 (Reuters) - British American Tobacco reported better-than-expected profits on Friday, as the company sold more high-priced cigarettes and saw strong demand for vaping products in the United States, its biggest market.

The Dunhill and Lucky Strike cigarette maker reported adjusted earnings of 157.8 pence per share for the first half of the year, higher than analysts’ forecast of 154.5 pence, according to Refinitiv Data.

Total revenue rose 0.8% to 12.27 billion pounds ($16.11 billion), slightly above analysts’ expectations of 12.20 billion. ($1 = 0.7615 pounds) (Reporting by Siddharth Cavale in Bengaluru, Editing by Sherry Jacob-Phillips)

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