British American Tobacco Confident of Fiscal Year 2017 Earnings Growth
December 13 2017 - 2:50AM
Dow Jones News
By Adam Clark
British American Tobacco PLC (BATS.LN) said Wednesday that
trading in the second half of 2017 has proceeded in line with its
expectations and that it remains confident of recording solid
full-year earnings growth.
BATS expects to report organic operating profit growth for the
second half, after benefiting from the phasing of shipments in key
markets, although this will be offset by a more difficult pricing
environment in some markets, it said.
The company added that its full-year earnings per share will
benefit from a currency translation tailwind of 5% and that its
integration of Reynolds American Inc. is on track.
BATS forecasts that volumes in the tobacco industry as a whole
will fall 4% in 2017, but that it will outperform the industry due
to continued market share growth.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
December 13, 2017 02:35 ET (07:35 GMT)
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