“Retrospective Application of an Increase in Excise” hits BAT

By John Lee.

In its full-year results, British American Tobacco (BAT) has announced that its volume and profit in Iraq were lower due to the retrospective application of an increase in excise.

The company makes and sells cigarette brands including Kent, Dunhill, Pall Mall, and Rothmans.

(Source: British American Tobacco)

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