BAT Share Price: Favourable H1 Results Released Today

on Jul 31, 2013
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iNVEZZ.com Wednesday July 31th: So far it has proven to be a good day for British American Tobacco (LON:BATS) with the company’s quarterly report showing an improvement of the key financials.

Even though half-year sales volumes are down 3.4 percent at 332 billion cigarettes, BAT managed to improve sales by 4 percent for the first half of the year attributing this to rising prices. The result is £2,865 million in profit which is a 5 percent increase over the same period last year. Adjusted diluted earnings per share reported by the company are up 10 percent to 111.1 pence. Stockholders will also be happy to hear that the Board of the company has declared an interim dividend of 45.0 pence, a 7 percent increase on last year’s dividend, which will be paid on September 30.

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Yesterday BAT became the first tobacco company to sell electronic cigarettes in the UK. Until September the ‘Vype’, as their electronic cigarette is called, will be for sale only online. While this is not the first electronic cigarette to be sold in the UK, the market until now has been dominated by smaller manufacturers. Earlier this year the Medicines and Healthcare products Regulatory Agency (MHRA) announced that it plans to regulate the market for e-cigarettes from 2016. This will give the maker of Dunhill a couple of years to establish itself in the market.
**British American Tobacco’s share price was £34.79 as of 31.07.2013, 08:14 BST.**

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