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Trading statements

BATS in line with expectations

14 June 2017 07:21

British American Tobacco expects profit growth to be weighted to the second half of the year, due to the phasing of volume shipments, next generation product investments and marketing spend.

The group said the business continued to perform very well and trading was in line with expectations with continued market share growth, driven by the Global Drive Brands (GDBs).

It said first half EPS was expected to benefit from a significant currency translation tailwind of around 14%.

It said first half revenue was expected to benefit from good pricing.

An update said: "As highlighted in February, first half volumes are lapping a strong prior year comparator and will be impacted by the phasing of shipments in a number of key markets, including Pakistan.

"Full year volume is expected to outperform the industry, which we anticipate will be down around 4%."

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