Printer Friendly

B.A.T. INDUSTRIES PLC ANNOUNCES QUARTERLY RESULTS

 LONDON, May 5 /PRNewswire/ -- B.A.T. Industries plc (AMEX: BTI) today reported the following quarterly results:
 Quarterly Report to March 31, 1993
 Summary
 Three Months Results 1993 1992 Pct. Change
 Continuing operations revenue 6,025m 5,125m + 18
 (Inc. exchanges managed by Farmers)
 Continuing operations trading profit 432m 334m + 29
 Pre-tax profit 360m 258m + 40
 Earnings per share 13.7p 8.8p + 56
 Group pre-tax profit of 360 million pounds sterling, up 40 percent with strong premium growth and recovery in financial services profits more than compensating for a slight downturn in tobacco.
 Financial services trading profit from continuing operations recovered strongly to 169 million pounds, up 48 percent. Net written premiums, including the exchanges managed by Farmers, rose by 11 percent to 2,304 million pounds.
 In the general business Farmers continues to progress and the ongoing recovery at Eagle Star contributed to a profit of 93 million pounds (1992, 43 million pounds). In the life business Allied Dunbar, Eagle Star and Farmers all recorded good premium growth and profits were 7 percent higher at 76 million pounds.
 Tobacco trading profit of 220 million pounds was slightly below last year's strong first quarter, influenced by a number of short-term factors. The principal distortions came from a reduced level of anticipatory buying in the U.S. market, a relocation provision at B and W and a sharp downturn in Germany.
 Chairman Sir Patrick Sheehy commented that "1993 has started well, with strong underlying growth helped by a positive impact from exchange rate movements. As usual, I will have more to say about the group's prospects for the full year at the annual general meeting on May 18."
 -0- 5/5/93
 /CONTACT: David Allvey, group finance director, or Michael Prideaux, group public affairs of B.A.T. Industries, in London, 44-71-222-7979/
 (BTI)


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

PS -- NY015 -- 4690 05/05/93 07:53 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 5, 1993
Words:322
Previous Article:EXAR ANNOUNCES YEAR-END RESULTS - NET INCOME UP 26 PERCENT; EPS GAIN 16 PERCENT
Next Article:APTARGROUP, INC. REPORTS INCREASE IN FIRST QUARTER EARNINGS
Topics:


Related Articles
B.A.T. INDUSTRIES ISSUES QUARTERLY REPORT TO SEPTEMBER 1991
B.A.T. INDUSTRIES ANNOUNCES PRELIMINARY RESULTS
B.A.T. INDUSTRIES ANNOUNCES MASSIVE PROFIT RISE
B.A.T INDUSTRIES REPORTS INCREASED PROFITS TO END OF SEPTEMBER
BAT INDUSTRIES DECLARE QUARTERLY REPORT
B.A.T INDUSTRIES PLC: QUARTERLY REPORT TO MARCH 31 1996
B.A.T CAPITAL $2.9B SENIOR DEBT AND MTNs RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
B.A.T. INDUSTRIES PLC: QUARTERLY REPORT TO JUNE 30, 1996
S&P Lowers BAT Ratings After Demerger Annoucement; Still Watch, Negative
B.A.T $1.9 Billion Senior Debt Downgraded To 'A' By Fitch IBCA - Fitch IBCA Financial Wire -

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters