British American Tobacco, the world's second-biggest maker of cigarettes, has announced a slight increase in annual net profit while warning of headwinds in southern Europe.
Earnings after tax grew 3.5 per cent to STG3.272 billion ($A6.12 billion) in 2013 from net profit totalling Stg3.163 billion a year earlier, the maker of the Dunhill, Kent, Lucky Strike and Pall Mall brands said on Thursday in an earnings statement.
Revenue was flat but after stripping out currency fluctuations, it grew 4 per cent to Stg15.822 billion year-on-year.
"British American Tobacco continued to perform strongly in 2013, with another year of excellent earnings growth and cash flow, partially offset by currency headwinds," chairman Richard Burrows said in the earnings statement.
"Difficult trading conditions persist in some parts of the world, notably southern Europe, but these results demonstrate that the group's strategy continues to deliver robust profit and dividend growth."
