BAT bolstered by launch of its e-cigarette

Early signs from the launch of electronic cigarette Vype have been good, the tobacco giant British American Tobacco said yesterday.

"We remain on track for a year of solid earnings growth," the chief executive, Nicandro Durante, said.

Rising cigarette prices again countered falling volumes to produce revenues up 3.5 per cent in the first nine months on cigarette volumes down 3.2 per cent at 501 billion. The group blamed duty rises in Brazil as well as the underlying decrease in smoking.