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British American Tobacco provided further proof yesterday that the world's largest cigarette companies are shrugging off the threat of smoking bans in the West, while sales in emerging markets flourish.
BAT said "excellent performances in Brazil and South Africa" helped it to post an 11 per cent increase in operating profits in the first quarter to £684 million ($1849 million), although revenue dropped 3 per cent.
The world's second largest cigarette maker said the results were hit by the weak US dollar.
- Agencies
