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27 Feb 2020 | 07:33

BAT FY revenues rise on higher prices; strong cigarette sales

(Sharecast News) - British American Tobacco on Thursday reported a rise in annual revenue as it said it expected another year of high single figure adjusted constant currency earnings growth. The maker of Luck Strike cigarettes said revenue rose 5.7% to ?25.88bn on the back of higher prices and a strong performance from its traditional tobacco business and new products.

Pre-tax profit fell to ?7.91bn compared with ?8.35bn. The company said it expected adjusted revenue growth at constant rates of exchange in a range of 3% - 5%.

BAT said it anticipated global industry cigarette and tobacco-heating products volume in 2020 to fall around 4%.

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