More UK firms warn on strong pound

BAT and Compass say profits hit by adverse currency markets after sterling rises 12% since the start of the year

British American Tobacco and contract caterer Compass have become the latest companies to warn that the strong pound is hitting profits.

The tobacco giant said profits for the first half of the year were down by 9% to £2.6bn as a result of adverse currency movements. The maker of Rothmans and Lucky Strike was also hit by a 0.4% decline in the number of cigarettes sold, but said it continued to gain market share.

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via Business Feeds

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