British American Tobacco Plc: Preliminary Annou...

LONDON, February 28 /PRNewswire/ --

Summary

    
                                         2007         2006        Change
 
    Revenue                        GBP10,018m      GBP9,762m        +3%
    Profit from operations          GBP2,905m      GBP2,622m       +11%
    Adjusted diluted earnings         108.53p         98.12p       +11%
    per share
    Dividends per share                66.20p         55.90p       +18%





    The reported profit from operations was 11 per cent higher at GBP2,905
million, or 7 per cent higher if exceptional items are excluded. However,
profit from operations, at comparable rates of exchange and excluding
exceptional items, would have been 11 per cent higher, with all regions
contributing to this strong result.



    Group volumes from subsidiaries were 684 billion, a decrease of 1 per
cent, mainly as a result of the high level of trade buying in some markets at
the end of 2006, supply chain disruptions in the Middle East and the loss of
StiX in Germany. The four Global Drive Brands achieved an overall volume
growth of 10 per cent, which led to share improvements in many markets. The
reported Group revenue increased by 3 per cent to GBP10,018 million but, at
comparable rates of exchange, would have increased by 5 per cent as a result
of more favourable pricing and an improving product mix.



    Adjusted diluted earnings per share rose by 11 per cent, principally as a
result of the strong growth in profit from operations, partly offset by the
adverse impact from foreign exchange movements. Basic earnings per share were
higher at 105.19p (2006: 92.08p).



    The Board is recommending a final dividend of 47.60p, which will be paid
on 7 May 2008. This, together with the interim dividend, will take dividends
declared in respect of 2007 as a whole to 66.20p, an increase of 18 per cent.



    The Chairman, Jan du Plessis, commented, "British American Tobacco has
had another very good year, with increased profit and share growth in many
markets. At a time of considerable economic and financial uncertainty around
the world, the Group is in good shape. Over the past five years, we have
delivered significant shareholder value with a total return of 294 per cent
compared to 89 per cent for the FTSE 100 as a whole."



    
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