烟草在线据Motley Fool报道编译　　在世界第二大卷烟制造商英美烟草公司于4月25日发布了2013年第一季度的临时管理报表之后，该公司股票目前上涨幅度超过了2%。在这份管理报表中，英美烟草公司报告，尽管市场条件艰难，但公司收入仍取得了5%的增长（按固定汇率计算）。

　　一些市场的烟草销量出现了增长：在孟加拉国、巴基斯坦和越南的销量增长帮助将亚太地区的销量提高了6.6%。但是这些增长被巴西的销量降低、南欧的市场下滑，以及导致的西欧销量减少超过10%所抵消。总的来看，公司的整体烟草销量减少了3.4%，而子公司的销量下滑了3.7%。

　　好消息来自于该公司的四个“全球动力”品牌，它们的整体销量增长了1%，并且在英美烟草集团最大的40个市场中取得了强劲的增长。但具体情况十分混杂。一方面，这四个品牌中有两个取得了增长，登喜路的销量增长了5%，波迈的销量增长了9%。但另外两个品牌的销量却下滑了，建牌因俄罗斯和日本的市场下滑而减少了7%，好彩的销量则主要因为西班牙和中东的销量滑坡而减少了9%。

　　也许是得益于机制卷烟销量出现的一些下滑，用于“手卷烟”的细切烟销量在西欧增长了9.5%，西欧最大的细切烟品牌——波迈的销量更是增长了21.2%。

　　英美烟草公司的执行总裁尼坎德罗·杜伦特发表评论说：“在世界很多地方的经济条件仍很脆弱的背景下，这已经是很好的业绩了。我们的收入取得了增长，我们的定价能力仍然强劲，我们的全球驱动品牌继续取得良好的业绩。这是个好的开端，我对我们的收益增长并且与我们的长期战略目标保持一致很有信心。”

　　英美烟草公司的收益目前大约为4.2%，预计在2014年将增长到4.6%以上，大大高于富时指数约3.6%的平均值。

British American Tobacco Rises on Q1 Growth

　　British American Tobacco -- the world's second-biggest cigarette maker -- is currently up more than 2% following this morning's interim management statement for the first quarter of 2013, in which the company reported revenue growth of 5% (on a constant current basis) despite difficult market conditions.

　　Some markets saw growth in tobacco volumes: Increases in Bangladesh, Pakistan, and Vietnam helped drive the Asia-Pacific region's volumes up 6.6%. But this was more than offset by much lower volumes in Brazil, and market declines in southern Europe, which contributed to a drop of more than 10% in volumes in the company's Western Europe businesses. Overall, there was a decrease of 3.4% in total tobacco volumes, with those of subsidiaries declining by 3.7%.

　　Better headline news came from the company's four "Global Drive" brands, which saw a 1% increase in overall volumes, with strong growth in the group's top 40 markets. But the detail was decidedly mixed. While two of the four were up -- Dunhill volumes increased by 5% and Pall Mall's grew by 9% -- the other two were down -- Kent was 7% lower, due to market declines in Russia and Japan, and Lucky Strike volumes dropped 9%, primarily because of declines in Spain and the Middle East.

　　Perhaps benefiting from some of the decline in volume of manufactured cigarettes, Fine Cut tobacco, used for "roll-ups," grew strongly, seeing a 9.5% increase in Western Europe, with Pall Mall -- the biggest Fine Cut brand in Western Europe -- up 21.2%.

　　Nicandro Durante, British American Tobacco's chief executive, commented:

　　This is a good performance against a backdrop of fragile economic conditions persisting in many parts of the world. We have grown revenue, our pricing momentum remains strong and our Global Drive Brands continue to perform well. It is a good start and I remain confident of another year of earnings growth in line with our long term strategic goals.

　　British American Tobacco's yield currently stands at around 4.2%, forecast to increase to more than 4.6% in 2014, which is comfortably above the FTSE average of around 3.6%. Enditem