British American Tobacco Backs FY22 Forecast For Adj. Earnings, Revenue Growth

(RTTNews) - British American Tobacco Plc (BATS.L, BTI) Thursday said it continues to expect fiscal 2022 revenue growth of 2 percent to 4 percent at constant currency rates.

In its second half pre-close trading update, the company said it still projects mid-single figure adjusted earnings per share growth at constant currency, including a transactional FX headwind of around 2 percent.

Full-year global tobacco industry volume is expected to be around minus 2 percent, compared to previous view of minus 3 percent, driven by continued post COVID recovery in emerging markets.

The company noted that industry volumes in the US remain under pressure due to ongoing macro-economic factors and post-Covid normalisation of consumption patterns.

Jack Bowles, Chief Executive, said, "We expect growing contribution across all New Categories, and all Regions in 2022. We are confident in delivering our targets of £5bn revenue, and profitability by 2025."