Income Majors 2019 

British American Tobacco: puffed-up returns

British American Tobacco: puffed-up returns

British American Tobacco (BATS) disappointed investors in June when it announced that it had lost some of its share of the American cigarette market for the first time in years. The US business was said to be “performing well” despite the fact its market share by volume had declined by 10 basis points in the first half of its financial year. The news sent the shares tumbling on the day.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now