British American Tobacco results hurt by forex
LONDON, July 30 (Reuters) - British American Tobacco Plc (LSE: BATS.L - news) reported lower revenue and profit for the six months ended June 30, hurt by the strong British pound and a slight decline in volume.
The world's No. 2 tobacco company by sales, whose brands include Pall Mall and Lucky Strike, said adjusted earnings fell 9 percent to 2.7 billion pounds ($4.57 billion). At constant exchange rates, earnings rose 4 percent.
Revenue also fell 10 percent to 6.8 billion pounds. Excluding the impact of currency, revenue rose 3 percent.
Volume, which measures the number of cigarettes sold, fell 0.4 percent. (1 US dollar = 0.5903 British pound) (Reporting by Martinne Geller in London, editing by Louise Heavens)