BAT to cut prices in American tobacco battle, says Sheehy

Click to follow
The Independent Online
BAT Industries aims to match price cuts of up to 20 per cent in US premium-brand cigarettes due to be implemented by the industry leader Philip Morris, according to Sir Patrick Sheehy, chairman. Announcing a 35 per cent rise to pounds 906m in BAT's half-year pre-tax profits, he warned that US cigarette industry profits would be lower now it was clear that prices would be reduced permanently.

(Photograph omitted)

Comments