British American Tobacco's FY revenue fall smaller than expected
Feb 25 (Reuters) - British American Tobacco, the world's second-biggest tobacco company, reported a smaller-than-expected fall in 2015 revenue on Thursday, helped by a smaller decline in organic cigarette volumes.
Revenue fell 6.2 percent to 13.1 billion pounds, dragged down largely by foreign exchange fluctuations. Excluding the impact of currency, BAT said revenue rose 5.4 percent, due to price increases.
Analysts on average were expecting revenue of 12.95 billion pounds, according to Reuters data.
Cigarette volume fell by 0.8 percent organically, excluding the acquisition of TDR in Croatia, against an estimated industry decline of 2.3 pecent, BAT said. (Reporting by Martinne Geller in London and Esha Vaish in Bengaluru; Editing by Sunil Nair)
© Thomson Reuters 2016 All rights reserved.