When the American investors think, tobacco greatness, Altria (NYSE: MO) and Filip Morris of International "(NYSE: PM) are the first the companies occur. But, being based on activity results, British American Tobacco (NYSE: БТИ) should be certain in mix movement, after the time management of the report of the company published on Wednesday.
In British American the reporting by results of nine months a basis, we with oranges, in particular, as the company has not informed some comparison of apples on profit or number income. But British the American of results volume still approximately in conformity from "Filip Morris": increase at 2 % in the general growth of volumes (including acquisitions), but 3 %-s' decrease without acquisitions. Compare that at the general decrease in volumes of Filip Morris интернэшнл "at a rate of 2,9 % (4 %-s' decrease without acquisitions) in incomes clearing last week.
Though Filip Morris has endured 4,3 % on volume a drop behind flagman brand Marlboro, British American saw 4 % of total amounts of profit for four "Global Drive brands" which include:
9 % of growth Pall Mall
5 % of growth on Lucky Strike
6 % of growth Dunhill
Such British Amerikan-visible, aeration economic storms well enough.
More impressively, British American has declared that the company has put growth of incomes and without currency of reasons (though it is not specified, whether there was it organic or at the expense of acquisitions). For comparison, Philip Morris International has informed about 5,3 % decrease in incomes for quarter and 1,4 %-s' decrease in operational incomes, and the income would grow on 6,9 % without adverse fluctuations of rates of exchange.
As global excises on tobacco products continue to grow, manufacturers of cigarettes have the work cut out for them in profit protection, despite volume decrease. For small manufacturers such as vector groups (NYSE: VGR) can be especially subject to risk as consumers solve, how many they are ready to pay to smoke.
Inside Altria has not worked much better, with decrease in sales volumes and partly increase of excise taxes, whereas Reynolds American (NYSE: RAI) also have informed about 11 % drop volume. On the other hand, Lorillard (NYSE: LO) served to more, than on the average 6,1 % on volume decreases even as has shown 2,6 %-s' increase in the operational income. British American Tobacco 42 % of shares of company Reynolds American own.
Though the tobacco market does not grow in the USA, however, consumers here completely has not frightened off increase in excises. Similarly, global growth of taxes only starts to be developed. And while the branch cannot kill these taxes, global consumers even more often address to grey or the black market smoke as result of increase in excises, having left growth prospects on premium-class products, as Marlboro in some threat.
