BAT Forecasts Earnings Growth Despite Currency Headwinds
British American Tobacco (BAT) said on Tuesday it expects to weather a weaker pound and a slowing market for tobacco-heating devices in Japan to report 'good' earnings growth for the full year.
The world's second-biggest international tobacco company by revenue said that trading in the first half of the year was in line with expectations and that adjusted revenue and profit growth would be weighted to the second half due to several items affecting its first-half comparisons.
The maker of Lucky Strike and Dunhill cigarettes said 'good adjusted constant currency EPS growth' was expected to be impacted by a significant currency translation effect of around 9% for the first half and 6% for the full year, at current spot rates.
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