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:

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:  



comments powered by Disqus


Gerard Henderson’s innumeracy shines through … again

Fri, 28 Nov 2014

The Sydney Institute's Chief galoot, Gerard Henderson, really does have trouble with numbers.

In another humiliating example of his poor grasp of the most basic of basic mathematic concepts, Hendo made the following statement in his Media Watchdog post on 28 November.

"The 2014 ABC Annual Report (page 108) states that the top 140 officers and employees earning over $200k per annum are in aggregate paid $39.66 million. A 25 per cent cut to this group would save $4 million annually."

Um, Gerry, my sharp pencil, clean paper and Year 8 long division skills calculate that 25 per cent of $39.66 million is $9.915 million. Where did Hendo and his solar pocket calculator get that $4 million number?

Only he knows.

This ineptitude on such basic maths reminds me of some shocking errors make by Hendo a couple of years ago. I took him to task but after one attempt to try to defend his 'surplus is a deficit' and '4.2 is more than 5' type errors, he ran away to hide.

Those errors are reproduced below for your entertainment.

Low oil prices hurt more than they help

Fri, 28 Nov 2014

Falling oil prices are poison for the Australian economy.

That hasn't stopped the perpetual optimists noting that at current levels, the oil price fall will translate to falling petrol prices and a saving of around $20 a month in the average household's petrol spending. Happy days!

What they fail to mention is that the oil price fall coincides directly with collapsing prices for other energy – notably coal and gas. So while the average motorist will save $20 a month on their petrol purchases, their superannuation fund will have been smashed as the share price of stocks in this space react to the increasingly dismal profit outlook.