"The outstanding results for 2005 demonstrate that British American Tobacco's strategy is working well
and I am confident that we can continue to deliver quality earnings growth and good cash flow over the long term." Jan du Plessis, Chairman
Like-for-like profit from operations
+ 9%
2005 £2,607m
2004 £2,398m
Growth of 9 per cent, or 5 per cent at constant rates of exchange, reflected higher profit in all regions, except America-Pacific. Reported profit from operations was down 36 per cent due principally to the impact of a gain on disposal of subsidiaries in the 2004 comparative. An
explanation of the like-for-like basis is given in the financial review
Like-for-like Group volumes
+2%
2005 676 billion
2004 663 billion
Like-for-like Group volumes grew by 2 per cent to 676 billion, with the four Global Drive Brands achieving overall growth of 9 per cent. Reported volumes were 1 per cent lower reflecting the disposal of subsidiaries in 2004.
Adjusted diluted earnings per share
+17%
2005 89.34p
2004 76.62p
Earnings per share are 89.34p, up 17 per cent, reflecting the improved underlying operating performance and reduced net finance costs, as well as the impact of the Reynolds American transaction and the share buy-back programme.
Dividends per share declared
+12%
2005 47.0p
2004 41.9p
With the recommended final dividend of 33.0p, the total dividends per share declared in respect of 2005 are 47.0p, an increase of 12 per cent on last year.
Like-for-like profit from operations
+ 9%Growth of 9 per cent, or 5 per cent at constant rates of exchange, reflected higher profit in all regions, except America-Pacific. Reported profit from operations was down 36 per cent due principally to the impact of a gain on disposal of subsidiaries in the 2004 comparative. An explanation of the like-for-like basis is given in the financial review
Like-for-like Group volumes
+2%Like-for-like Group volumes grew by 2 per cent to 676 billion, with the four Global Drive Brands achieving overall growth of 9 per cent. Reported volumes were 1 per cent lower reflecting the disposal of subsidiaries in 2004.
Adjusted diluted earnings per share
+17%Earnings per share are 89.34p, up 17 per cent, reflecting the improved underlying operating performance and reduced net finance costs, as well as the impact of the Reynolds American transaction and the share buy-back programme.
Dividends per share declared
+12%With the recommended final dividend of 33.0p, the total dividends per share declared in respect of 2005 are 47.0p, an increase of 12 per cent on last year.
This Annual Review and Summary Financial Statement does not contain sufficient information to allow for a full understanding of the results of the Group and the state of affairs of the Company or of the Group. For further information, refer to the Directors' Report and Accounts, which incorporates the full annual accounts, the Report of the independent auditors on those accounts, the Directors' Report and the Remuneration Report (click here to view the Directors report & accounts).