Batus Inc.: The Louisville, Ky., holding company...

Batus Inc.: The Louisville, Ky., holding company for the U.S. business interests of BAT Industries PLC of England said 1988 net income rose 15% to $535 million and sales advanced 7% to $6.3 billion, both records. Batus said Farmers Group, the Los Angeles-based insurance firm that it bought for $5.2 billion on Dec. 16, 1988, is being treated as having been acquired Dec. 31, 1988. Therefore, the balance sheet reflects the deal, but Farmers’ results are not incorporated in the income statement. Batus also owns Brown & Williamson Tobacco Corp., Saks Fifth Avenue, Marshall Field’s and Breuners.