British American Tobacco Provides Trade Update; Says US Consumers Wary Of Inflation

  • British American Tobacco PLC BTI has provided a trading update and confidence in delivering its 2022 guidance.
  • The company expects FY22 revenue growth of 2% - 4% at constant currency rates and a mid-single figure adjusted diluted EPS growth at constant currency rates, including a transactional FX headwind of 2%.
  • The company expects net finance costs for FY22 to be above £1.6 billion, driven by rising interest rates and U.S. dollar strength.
  • The company also reported confidence in delivering its target of £5 billion revenue, and profitability by 2025.
  • In addition, the company expects its three-year Quantum programme to deliver over £1.5 billion in annualized cost savings by the end of 2022.
  • In the U.S., the company said industry volumes remain under pressure due to ongoing macro-economic factors and post-COVID normalization of consumption patterns.
  • British American Tobacco expects to deliver strong adjusted operating margin improvement despite increasing inflation in its supply chain. 
  • Price Action: BTI shares are trading lower by 2.93% at $40.80 in premarket on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsGuidanceGeneralBriefsEurasia
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!