Advertise with fastmoving.co.za
 
 

BAT forecasts another year of high single-figure, adjusted constant currency earnings growth.
BAT forecasts another year of high single-figure, adjusted constant currency earnings growth.

British American Tobacco full-year sales and profit rise

INTERNATIONAL NEWS

By Martinne Geller - Mar 1st, 09:47

British American Tobacco (BAT), the second-biggest international tobacco company, reported higher full-year adjusted sales and profit, helped by cigarette market share gains and growth in vaping devices.
 

Excluding the impact of currency fluctuations and the 2017 acquisition of Reynolds American, the maker of Lucky Strike and Dunhill cigarettes reported adjusted 2018 revenue of £25.76bn, up 3.5%.

Its adjusted earnings per share were 296.7p, up 11.8% on the same basis. Roughly three percentage points of the earnings growth were related to a federal tax change in the US.

Looking ahead, BAT forecasts another year of high single-figure, adjusted constant currency earnings growth.

The company also said its finance director Ben Stevens plans to step down. He will be replaced on August 5 by Tadeu Marroco, currently the company’s director of group transformation. Before that, Marroco will serve as deputy finance director from March 1, in addition to his current role.
Business Live 

Read more about: sales | retail | markets | cigarettes | brands | bat

Related News

Truworths profit at nine-year low as profit plunges over 70%
16/08/2019 - 11:52
Shares in Truworths slumped to a nine-year low on Friday morning after the fashion retailer reported a 74% slide in profits amid difficult trading environments in SA and the UK.

UnionPay cards - the largest card scheme in the world - now accepted at all Pick n Pay stores across SA
16/08/2019 - 11:11
UnionPay International (UPI) has announced significant progress in the South African retail payments market through their co-operation with Pick n Pay and Absa Bank. Through a tripartite co-operation agreement, Pick n Pay, a major food, clothing, and general merchandise retailer, is now enabled to accept UnionPay cards at all of its till points across its approximately 1,800 stores countrywide.

With banana leaf lamps, H&M backs firms promising social change
15/08/2019 - 10:31
With lampshades made by Indian women and trays from East Africa, H&M said that it had become the latest retail giant to back businesses with a mission to do good, as pressure mounts to end throwaway consumerism.

Kit Kat goes solar at Benoni Cash & Carry site
15/08/2019 - 09:11
In a bid to reduce its carbon footprint, mitigate load shedding and become less reliant on the national grid, the Kit Kat group has completed a solar power installation at its Benoni Cash & Carry store.

Choppies to exit SA market, chair to step down
15/08/2019 - 09:03
Botswana-based grocery retailer, Choppies, has announced that it will be exiting the South African market, four years after expanding into the country.