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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  British American Tobacco Plc    BATS   GB0002875804

BRITISH AMERICAN TOBACCO PLC

(BATS)
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British American Tobacco : BAT 1st Half Pretax Profit, Revenue Rose Amid Coronavirus

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07/31/2020 | 02:40am EDT

By Joe Hoppe

 

British American Tobacco PLC on Friday said first-half pretax profit rose on the back of a strong performance in its primary markets and despite the coronavirus.

The tobacco company posted a pretax profit of 4.59 billion pounds ($6.01 billion) in the first half compared with GBP3.87 billion the prior year, and beating market expectations of GBP4.33 billion. Revenue rose 0.8% to GBP12.27 billion.

The company attributed its performance to a strong performance in developed markets--which represent 75% of its adjusted revenue--and a growing cigarette and tobacco-heating product market share in emerging markets. It added that it benefited from a strong cigarette price mix of 8.5%, which offset overall lower cigarette sales and tobacco-heating product sales which fell 6.3%.

BAT backed its earlier guidance of a fall in fiscal 2020 adjusted revenue of 3% in the wake of the coronavirus, and constant currency adjusted diluted earnings per share growth in the mid-single digits.

Chief Executive Jack Bowles said the business is performing well in difficult circumstances and has been able to rapidly adapt to the current environment.

The board declared an interim dividend payment of 52.6 pence a share.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

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Financials
Sales 2020 25 584 M 32 960 M 32 960 M
Net income 2020 7 053 M 9 086 M 9 086 M
Net Debt 2020 40 574 M 52 271 M 52 271 M
P/E ratio 2020 8,78x
Yield 2020 7,88%
Capitalization 62 557 M 80 673 M 80 591 M
EV / Sales 2020 4,03x
EV / Sales 2021 3,79x
Nbr of Employees 56 689
Free-Float 92,8%
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Technical analysis trends BRITISH AMERICAN TOBACCO PLC
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Mean consensus BUY
Number of Analysts 22
Average target price 3 595,75 GBX
Last Close Price 27,37 GBX
Spread / Highest target 16 710%
Spread / Average Target 13 040%
Spread / Lowest Target 7 583%
EPS Revisions
Managers
NameTitle
Jack Marie Henry David Bowles Chief Executive Officer & Executive Director
Richard George William Burrows Chairman
Alan Davy Operations Director
Tadeu Luiz Marroco Executive Director & Finance Director
David O'Reilly Director-Research & Science
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