Tobacco: Developing nations drive BAT profit surge

British American Tobacco's shares soared almost 5% in early trading on Thursday after it pledged to ramp up its share buyback programme and raise its dividend.

The company reported pre-tax profits of £2.76bn in 2006, up from £2.58bn the year before. It said much of the growth had been driven by Asia-Pacific, Latin America, Africa and the Middle East.

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