Adjusted operating profit at constant currency grew 10.8%, driven by robust price/mix and GFB shipment volume growth. On a reported basis, adjusted operating profit declined 23.4%, due to unfavorable currency movements.
Core revenue at constant currency increased 7.0%, while it declined 13.2% on a reported basis.
GFB shipment volume grew 4.3%, reflecting strong growth of Winston, Camel, LD, Benson & Hedges and Sobranie. GFB fine cut shipment volume increased 30.8% resulting in total fine cut shipment volume growth of 13.1%. Despite significant industry contraction in Russia and a volatile operating environment in the Middle East, total shipment volume only declined 1.0%.
Year-on-year market share[i] increased in key markets including France, Italy, Spain, Taiwan, Turkey and the UK. In Russia, GFB market share continued to grow driven by LD.
[i] Source: IRI, Logista, Nielsen and JTI estimates on a 12-month rolling average, unless otherwise specified, for cigarettes and fine cut at the end of December 2015. The Benelux, Germany, Greece, Spain and Switzerland are on a 12-month rolling average at the end of November 2015. 12-month share of market growth for November 2015 markets is calculated against a 12-month share of market at the end of December 2014.