As the uncertainty (caused by recent U.S. litigation) starts to recede, the real value of our business should become more apparent.

P. A. M. was able to produce more revenue with fewer assets in an asset-intensive business such as trucking.

Business has turned really sluggish. There is a lack of traffic in the stores, ... There is overall uncertainty with the economy and gas prices.

These strong results reflect the first full year of the enlarged British American Tobacco Group and have been achieved by meeting our objectives of growth in international brands, improvements in margins and synergies from the merger.

These strong results reflect the first full year of the enlarged British American Tobacco Group and have been achieved by meeting our objectives of growth in international brands, improvements in margins and synergies from the merger,

Despite the improved revenue outlook, market conditions remain broadly unchanged as significant promotional activity is required to maintain seat factors.