British American Tobacco Plc (BATS.L,BTI) reported Thursday lower profit and revenues in its first half. Further, the company maintained its fiscal 2025 outlook, led by the U.S. and Velo's global growth.
On the London Stock Exchange, the shares were gaining around 1.8 percent to trade at 4,058.00 pence.
Looking ahead, for fiscal 2025, the company now expects revenue growth at the top end of its outlook of 1 percent to 2 percent, with mid-single digit New Category revenue growth.
The company still expects 1.5 percent to 2.5 percent adjusted profit from operations growth, adjusted for Canada.
Global tobacco industry volume is expected to be down around 2 percent.
In the first half, profit before taxation declined to 5.57 billion pounds from last year's 5.60 billion pounds. Earnings per share, however, grew 1.6 percent to 203.6 pence from 200.3 pence last year.
Adjusted earnings per share were 162.0 pence, compared to 169.3 pence a year ago.
Revenue for the period dropped 2.2 percent to 12.07 billion pounds from last year's 12.34 billion pounds. Revenue was up 1.8 percent at constant FX, driven by a return to growth in the U.S. led by combustibles and Velo Plus, continued growth in AME, partly offset by APMEA.
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