What does British American Tobacco say about sales volumes in Australia?

Thu, 19 Jun 2014  |  

The Australian's campaign to torture and misrepresent the data on the volume of tobacco consumed in Australia seems to have had a final nail in the coffin with news from British American Tobacco, no less, that sales volumes in Australia are falling.

In their annual report which covers the period up to 31 December 2013, the BAT report notes:

"Australia:
Profit was up strongly as a result of higher pricing and cost saving initiatives, partially offset by lower volume."

What was that?

BAT saying "lower volumes"?

Oh I see. The volume of tobacco sold by BAT was lower in 2013, a picture that dovtails perfectly with the data from the Australian Bureau of Statistics. Who would have thought that?

Certainly not The Australian writers Christian Kerr, Adam Creighton, Henry Ergas, Judith Sloan, Sinclair Davidson, Chris Merritt, The Editorial writer or the person who puts together the cheeky Cut and Paste column.

See BAT annual report, page 32:  

http://www.bat.com/ar/2013/assets/pdfs/BAT_AR2013.pdf 

 

comments powered by Disqus

THE LATEST FROM THE KOUK

Wages growth plumbs record lows

Wed, 25 Feb 2015

One of a huge problems confronting the economy now is the weakness in household incomes. Without decent growth in income, consumer spending will be constrained unless households decide to either run down savings or add to debt, neither of which is sustainable in the long run.

The wage data today confirmed the wage price index up rising by 0.6 per cent in the December quarter or 2.5 per cent over the year. This is the weakest rate of increase in any roughly comparable wage measure I can find in data bases going back to the 1960s.

House price growth picks up pace

Wed, 25 Feb 2015

After what was a promising cooling in house price growth late last year, there are signs that it is starting to lift.

The annual rise in house prices peaked at around 13 per cent and through the course of 2014, this growth dipped to a low of around 7.75 per cent. It looked like we were seeing an orderly and non-disruptive moderation in what had the potential to turn into a nasty asset price bubble.

But things are changing.

The most recent data from Corelogic shows that annual house price growth has picked up, hitting 8.9 per cent today.