British American Tobacco profit fall as volume declines

British American Tobacco said reported lower annual profit on volume declines and legal and restructuring charges. The tobacco giant also said performance of revenue in its 'new categories' division, which included vaping products, would be second-half weighed following a regulatory clampdown in the US. For the year ended 31 December, pre-tax profit fell to £7.9m from £8.3m and revenue increased 5.7% to £25.9bn as lower volumes held back growth. Total cigarette and tobacco heating products (THP) volume declined 4.4% to 677bn sticks, with cigarette volume down 4.7% and THP volume up 31.6%. The company flagged a number of charges related to Canada (Quebec... Read More

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