British American Tobacco's 2013 earnings and profits rise

Sharecast

LONDON (ShareCast) - - Earnings rise six per cent
- Operating profit and margin improve
- Global Drive boosts market share
- Dividend raised six per cent

British American Tobacco (LSE: BATS.L - news) reported a six per cent rise in 2013 core earnings to 216.6p per share, in line with analysts' expectations, as market share grew.

The world's second largest cigarette maker said without the impact of adverse currency movements in three of its four regions it would have reported a 10% rise in earnings to 224.7p.

Adjusted profit from operations climbed 3% to £5.8bn and the operating margin jumped 100 basis points to 38.1%.

The company's Global Drive, Dunhill, Kent, Lucky Strike and Pall Mall, helped increase market share and volume.

The group recommended a final dividend of 97.4p, bringing the 2013 total dividend to 142.4p per share, an increase of 6%.

"British American Tobacco continued to perform strongly in 2013, with another year of excellent earnings growth and cash flow, partially offset by currency headwinds," said Chairman Richard Burrows.

Shares rose 0.93% to 3,206p at 08:25 on Thursday.

RD

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