BAT puffs up revenue with price rises
Friday 26 April 2013
British American Tobacco has adopted the simple solution to falling sales: put up its prices. The tobacco giant yesterday reported a 5 per cent rise in revenue for the first three months of the year.
That beat City expectations thanks to "strong" pricing momentum more than offsetting reduced volume. The shares, which are up 16 per cent this year, outperforming the FTSE 100, rose 43p to 3,591p.
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