By Adriano Marchese
British American Tobacco PLC (BATS.LN) said Wednesday that business continues to perform well in the first half of fiscal 2019 and that it is on track to deliver a good performance for the full year.
The tobacco company said that revenue on a constant-currency basis is expected to be in the mid-to-upper half of its long-term guidance range of 3% and 5%. It also said that adjusted operating profit growth are in line with its guidance, but didn't provide any further figures. Additionally, BATS expects to deliver high single-figure adjusted diluted earnings-per-share growth at constant currency.
BATS said that deleveraging remains on track, and that the business expects to deliver free cash flow after dividends of 1.5 billion pounds ($1.9 billion) for the full year.
The company also said that it intends to consolidate its new category portfolio into fewer brands.
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