BAT to cut prices in American tobacco battle, says Sheehy

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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.

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