British American Tobacco 2013 Profit Climbs; Agrees £1.5 Bln Buyback For 2014

(RTTNews) - British American Tobacco Plc (BTI, BATS.L) posted higher pre-tax profit of 5.8 billion pounds in 2013, compared with last year's 5.59 billion pounds. Profit attributable to owners of the parent was 3.9 billion pounds, versus 3.8 billion pounds, as restated, in 2012.

For the year 2013, reported profit from operations was 3% higher at 5.53 billion pounds, and adjusted Group profit from operations went up by 3% and by 7% at constant rates of exchange, the company said.

On a per share basis, earnings amounted to 204.6 pence this year, an increase from 194.8 pence a year earlier. Adjusted earnings per share were 216.6 pence in the recent year.

At current rates, full-year revenue totaled 15.26 billion pounds, versus the prior-year restated figure of 15.19 billion pounds. Reported revenue was slightly higher due to exchange rate movements which negatively impacted three of the Group's four regions. Group revenue was up by 4% at constant rates of exchange, mainly because of continued good pricing.

In addition, the board recommended a final dividend of 97.4 pence, taking the 2013 total dividend to 142.4 pence per share, an increase of 6%. Further, the Board has approved an on-market share buy-back programme for 2014 with a value of up to 1.5 billion pounds, excluding costs.