BATs Trading to Date in Line; Sees Earnings Boost from Weak Pound
June 14 2017 - 2:54AM
Dow Jones News
By Ian Walker
LONDON--British American Tobacco PLC (BATS.LN) said Wednesday
trading for the year to date is in line with its expectations, and
that earnings are expected to benefit from the current weakness of
the British pound.
The maker of Dunhill and Lucky Strike cigarettes said that if
current exchange rates remain unchanged, first-half operating
profit would be 13% higher, and earnings a share up 14%. For the
full year, operating profit is expected to be 7% higher, the
company said.
London-headquartered BAT said it continues to grow its share of
the cigarette market, with sales volumes ahead of last year's,
though future growth would reflect the phasing of shipments in a
number of the company's main markets, including Pakistan.
Full-year volumes are is expected to outperform the industry,
the company said.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
June 14, 2017 02:39 ET (06:39 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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