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British American Tobacco On Track To Meet £5 Bln New Category Revenue Ambition By 2025

British American Tobacco plc (BATS.L,BTI) announced that it has delivered constant currency revenue growth of 3.3% in 2020, above its revised 1%-3% guidance range.

On a constant currency adjusted basis, profit from operations grew by 4.8%, with earnings per share up 5.5%. Operating margin grew by 100 basis points to 44.1% including the impact of currencies.

The company generated revenues of £1.4 billion, led by its reduced-risk, New Category products in 2020, representing 15% growth at constant rates compared with 2019. Further, the company noted that it is on track to meet its £5 billion New Category revenue ambition by 2025.

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