British American Tobacco, Europe's largest tobacco group, has seen a 9.6pc decline in nine-month revenues due to the strong pound.
Nicandro Durante, Chief Executive, commented: 'The trading environment remains challenging due to continuing pressure on consumer disposable income worldwide and the slow economic recovery in Western Europe.'
15 Oct '14
8 Oct '14
Japan Tobacco set to close last U.K. plant: The last tobacco manufacturing plant in the U.K. is to close after Japan Tobacco International, makers of Silk Cut and Benson & Hedges, announced its intention to end production at its County Antrim facility in Northern Ireland.
14 Sep '14
British American Tobacco nicotine inhaler wins regulatory approval: A new type of nicotine inhaler backed by British American Tobacco has won regulatory approval to go on general sale as a medicinal product, and could appear in shops as early as next year
28 Aug '14
Specially vulnerable: British American Tobacco has validated the thesis that an Executive given the title “head of special projects” has been transferred to the departures lounge. Superfluous Bosses are usually parked in this role with at least a pretence that the job may be permanent. However Jean-Marc Levy, who is stepping down unexpectedly as marketing Director, will occupy the post for just four months before leaving the tobacco giant. The special projects brief can be a useful airlock through which to bundle time-served Managers for two reasons. First, it makes the incumbent sound important. Second it bears no critical responsibilities. A special projects unit may be opened or closed at whim. You cannot do that with a division. The head of special projects may thus have the uncanny feeling that the red dot of a laser sight is trained on the back of his head. Nor are his projects likely to be truly special. The best innovations are likely to be generated within divisions, who will guard them jealously.
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