BAT INDUSTRIES PLC <BTI.L> 1986 YEAR
Shr 53.51p vs 45.72p
    Div 8.8p vs 7.35p making 14.3p vs 12.1p
    Turnover 19.17 billion stg vs 17.05 billion
    Operating profit 1.48 billion vs 1.29 billion
    Pretax profit 1.39 billion vs 1.17 billion
    Tax 524 mln vs 430 mln
    NOTE - The company said shareholders would be given the
option of receiving dividend in cash, ordinary shares or
combination of the two.
    Operating profit includes -
    Commercial activities 1.08 billion vs 988 mln
    Financial services 263 mln vs 135 mln
    Share of associated companies 139 mln vs 163 mln
    Investment income 150 mln vs 166 mln
    Interest paid 238 mln vs 286 mln
    Minorities 76 mln vs 63 mln
    Extraordinary credit 75 mln vs 34 mln debit
    Transfer to revaluation reserve 85 mln vs 106 mln
    Profit attributable 793 mln vs 673 mln
    Required inflation retention 77 mln vs 147 mln
    Trading profit 1.51 billion vs 1.29 billion
    Trading profit includes -
    Tobacco 764 mln vs 738 mln
    Retailing 211 mln vs 186 mln
    Paper 217 mln vs 168 mln
    Financial services 282 mln vs 135 mln
 REUTER
