3 months quarter-to-date 2014 (July-September)
Adjusted operating profit grew 4.8%, and 11.8% at constant FX driven by strong price/mix.
Core revenue declined 0.1% due to unfavorable currency, increasing 4.0% at constant FX.
GFB shipment volume grew 1.0% primarily driven by Middle East markets, Spain and Turkey. GFB fine cut shipment volume increased 19.2%, driving total fine cut volume growth of 5.7%.
Total shipment volume declined 3.6% mainly due to industry contraction in Russia.
Year-on-year market share1 increased in the key markets of France, Spain, Turkey and the UK. In Russia, GFB share of market continued to grow driven by Winston.
1 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 September 2014. Belgium, Germany, Luxembourg, Netherlands, Spain and Turkey are on a 12-month rolling average at the end of August 2014. 12-month share of market growth for August 2014 markets is calculated against a 12-month share of market at the end of September 2013.