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BAT INDUSTRIES MAKES PRELIMINARY ANNOUNCEMENT - YEAR ENDED DEC. 31, 1992

 LONDON, March 10 /PRNewswire/ -- B.A.T. Industries (AMEX: BTI) today issued its company results for the year ended Dec. 31, 1992. A summary follows:
 B.A.T. INDUSTRIES
 1992 1991 Change
 pds sterling pds sterling Percent
 Continuing operations
 revenue+ 22,093 mln 20,605 mln + 7
 Pre-tax profit 1,645 mln 981 mln + 68
 Earnings per share 58.7p 24.8p +137
 Dividends per share 37.2p 33.6p + 11
 + Including exchanges managed by Farmers.
 -- Pre-tax profit rose by 68 percent to 1,645 million pounds sterling, a total which would have been 29 million pounds higher had the group not adopted a new method of accounting for its Brazilian operations.
 -- Record tobacco trading profit of 1,314 million pounds, up by 24 percent reflecting good results from all major operations. Exports rose by 23 percent and the group's share of the world market increased to 10.9 percent.
 -- Financial services trading profit from continuing operations recovered from 230 million pounds to 598 million pounds, with another outstanding performance from Farmers and a marked improvement in Eagle Star's general business. Net losses from discontinued operations amounted to 86 million pounds.
 -- Strong balance sheet with a net debt/equity of 54.6 percent.
 -- Shareholders will be asked to approve a 1 for 1 bonus issue at the annual general meeting on May 18.
 -- The board recommended a final dividend of 22.6 pence, total for the year 37.2p, up 11 percent. The dividend will be covered 1.6 times by earnings compared to 0.8 times in 1991.
 Chairman Sir Patrick Sheehy commented: "The dividend increase maintains the board's commitment to dividend growth significantly in excess of the rate of inflation, a major component in our strategic objective of delivering superior total returns to shareholders."
 -0- 3/10/93
 /CONTACT: David Allvey, group finance director, or Michael Prideaux, director of group public affairs of BAT Industries, 44-71-222-7979/
 (BTI)


CO: B.A.T. Industries ST: IN: SU: ERN

PS -- NY007 -- 4755 03/10/93 07:23 EST
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Publication:PR Newswire
Date:Mar 10, 1993
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