British American Tobacco Sees Good Performance in 1st Half 2019

Date : 06/12/2019 @ 7:55AM
Source : Dow Jones News
Stock : British American Tobacco P.L.C. (BTI)
Quote : 36.3  -0.65 (-1.76%) @ 4:59AM

British American Tobacco Sees Good Performance in 1st Half 2019

British American Tobacco (LSE:BATS)
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By Adriano Marchese

 

British American Tobacco PLC (BATS.LN) said Wednesday that business continues to perform well in the first half of fiscal 2019 and that it is on track to deliver a good performance for the full year.

The tobacco company said that revenue on a constant-currency basis is expected to be in the mid-to-upper half of its long-term guidance range of 3% and 5%. It also said that adjusted operating profit growth are in line with its guidance, but didn't provide any further figures. Additionally, BATS expects to deliver high single-figure adjusted diluted earnings-per-share growth at constant currency.

BATS said that deleveraging remains on track, and that the business expects to deliver free cash flow after dividends of 1.5 billion pounds ($1.9 billion) for the full year.

The company also said that it intends to consolidate its new category portfolio into fewer brands.

 

Write to Adriano Marchese at adriano.marchese@dowjones.com

 

(END) Dow Jones Newswires

June 12, 2019 02:40 ET (06:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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