The industry cigarette volume decline was "exacerbated by economic stagnation, lack of disposable income and lack of coinage for change" which has resulted in consumers often paying higher prices than those recommended by the manufacturer.
Revenue was down 14 percent to
Dunhill volume grew 48 percent to 9,1 million sticks, boosted by the new "switch" variant.
Operating profit was down to
Despite lower disposable income, BAT is forecasting to increase volumes by 100 million sticks in the financial year to 1,4 billion sticks, chief executive Mr Lovemore Manatsa said.
"In terms of exercise (duty), we managed to engage the
"This therefore means we get a chance or opportunity to rebuild our volume base."
Going forward, Mr Manatsa said BAT would focus on growing volume and value in 2014.
The company will also continue implementing the
BAT has more than 4 000 small scale farmers and 120 large scale under its growers scheme. This year, the company is expecting about 26 million kilogrammes of tobacco that was grown under the scheme, said Mr Manatsa.
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