Plus   Neg

British American Tobacco Reports Good Performance In H1; FY View Unchanged

British American Tobacco plc (BATS.L,BTI), in its first-half pre close trading update, reported Wednesday that its business continues to perform well. The Group full-year guidance remains unchanged.

The company said it is on track for constant currency revenue growth in the mid-upper half of long-term guidance range of 3-5%.

Constant currency adjusted operating profit growth is expected in the upper half of long-term guidance range of 5-7%.

The company noted that combustibles continue to perform strongly, benefited by the growth of the Strategic Brands and good pricing.

New Category revenue growth in the first half approached full-year guidance range. The company expects an acceleration in the second half resulting in FY growth around the middle of the 30-50% range, on a constant currency basis.

Further, the US business is performing well with good pricing and continued value share growth.

Looking ahead, British American Tobacco said it is confident of delivering high single figure constant currency adjusted earnings per share growth in the full year.

Jack Bowles, Chief Executive, said, "We are on track for a good performance in 2019 with revenue and adjusted operating profit growth in line with our guidance and delivery of high single figure FY adjusted diluted EPS growth at constant rates of exchange."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Auto giant General Motors' (GM) Chevrolet unveiled its new stunning Corvette Stingray 2020. Stingray 2020, the eighth generation of the Chevrolet Corvette, has received the biggest change since its initial launch in 1953. The new 2020 Corvette is a mid-engine vehicle, which is its engine is behind... Amazon.com's Prime Day has brought a smile to the face of some photographers who may have grabbed their best deals of their lives. The e-commerce giant accidentally discounted a wide range of premium camera gear for Prime Day earlier this week, which may have proved costly for it. Thanks to a pricing error, some lucky customers were able to buy premium camera gear bundles for below $100. Women's clothing chain Dress Barn Inc. said it started store-closing or inventory clearance event sales at the 53 stores it plans to close by the end of August. The company expects to close all its stories by end of 2019. It also released a list of the nine stores closing in July and the stores closing in August. Dressbarn has hired Gordon Brothers Retail Partners to help with the store closures.
Follow RTT