LONDON, February 24, 2011 /PRNewswire-FirstCall/ -- British American Tobacco plc (BAT) today released their preliminary results for the year ended 31st December 2010. Group revenue grew by 5 per cent, the Global Drive Brands achieved overall volume growth of 7 per cent, with Dunhill up 18%, and adjusted earnings per share grew 15%. Free cash flow also increased by 23 per cent and the Group announced a share buy-back of GBP750 million.
Speaking in an interview with financial broadcaster http://www.cantos.com , CEO Paul Adams said these were "a very pleasing set of results" and FD Ben Stevens pointed out that over the last three years since 2007 BAT has "managed to grow earnings per share by 60% and dividends by over 70%".
Paul Adams dismissed doubts about the long-term future of the tobacco industry, stating that both the industry and BAT "have tremendous opportunities for growth going forward" and CEO Designate Nicandro Durante, who takes over the leadership on 1st March, said he was "very confident about the future".
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SOURCE British American Tobacco Plc