British American Tobacco Plc. (BTI, BATS.L) reported interim management statement for the first-quarter ended 31 march 2013. Group revenue for the quarter months, at constant rates of exchange, grew by 5%, driven by a strong pricing environment. At current exchange rates, revenue grew by 1%, as movements in some of the Group's key trading currencies adversely impacted revenues.
The company stated that it performed well in the three months to the end of March 2013 with continued growth in revenue and Global Drive Brands. Market share grew strongly in the Group's Top 40 markets, although volumes were lower than last year as a result of the adverse impact of excise-driven trade inventory movements in Brazil, the leap year comparator and industry volume decline.
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