Smokers lighting up again after downturn adjustment
Published 26/10/2011 | 09:04
THE world's second largest tobacco company today said the number of smokers cutting back in the economic downturn was moderating.
British American Tobacco (BAT), which has more than 300 brands, said cigarette volumes were down 0.6pc year-on-year at 523bn in the nine months to September 30, compared to a 1pc drop last year.
The group said its four core brands - Lucky Strike, Pall Mall, Kent and Dunhill - were up 8pc, despite excise-driven price increases and the threat of illegal trade.
Nicandro Durante, BAT chief executive, said: "While the challenging economic conditions continued to impact consumers in some markets, other markets are showing signs of recovery."