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BRITISH AMERICAN TOBACCO P.L.C.

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British American Tobacco Raises 2021 Revenue Guidance -- Update

06/08/2021 | 03:06am EDT

By Matteo Castia

--British American Tobacco expects 2021 revenue to rise more than previously thought

--The company targets revenue of GBP5 billion at its new-category division by 2025

--The global travel retail business is unlikely to recover until 2022

British American Tobacco PLC on Tuesday raised its full-year revenue guidance but said it doesn't expect its travel retail business to recover from the coronavirus pandemic before next year.

The FTSE 100 company said it expects revenue growth for 2021 to be above 5% at constant currency, building on strong pricing and volumes for combustible tobacco. This compares with previous views of 3%-5% revenue growth for the year.

Adjusted diluted earnings per share for the year are anticipated to increase at constant currency by mid-single digit, the company said.

"We continue to expect 2021 to be a pivotal year for the business, with accelerating New Category revenue growth [and] a clear pathway to New Category profitability by 2025," the owner of Camel and Lucky Strike cigarettes said. It said it aims to reach revenue of 5 billion pounds ($7.09 billion) for that division by 2025.

So far in 2021, new-category revenue and volumes have accelerated and the division has gained further market share, the company said.

However, British American Tobacco said no recovery is expected until 2022 for its global travel-retail unit.

The company also said it expects a 2% negative impact on first-half and full-year adjusted profit due to transactional headwinds.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

06-08-21 0305ET

Stocks mentioned in the article
ChangeLast1st jan.
BRITISH AMERICAN TOBACCO P.L.C. -2.06% 2788 Delayed Quote.3.10%
CAMEL GROUP CO., LTD. 2.51% 11.01 End-of-day quote.17.75%
DJ INDUSTRIAL -1.58% 33290.08 Delayed Quote.10.51%
FTSE 100 0.00% 7017.47 Delayed Quote.8.62%
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Financials
Sales 2021 25 374 M 35 024 M 35 024 M
Net income 2021 6 966 M 9 615 M 9 615 M
Net Debt 2021 38 261 M 52 812 M 52 812 M
P/E ratio 2021 9,26x
Yield 2021 7,74%
Capitalization 63 897 M 88 166 M 88 199 M
EV / Sales 2021 4,03x
EV / Sales 2022 3,80x
Nbr of Employees 56 689
Free-Float 87,1%
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Technical analysis trends BRITISH AMERICAN TOBACCO P.L.C.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 20
Average target price 3 503,07 GBX
Last Close Price 2 792,00 GBX
Spread / Highest target 65,9%
Spread / Average Target 25,5%
Spread / Lowest Target -21,6%
EPS Revisions
Managers and Directors
NameTitle
Jack Marie Henry David Bowles Chief Executive Officer & Executive Director
Tadeu Luiz Marroco Executive Director & Finance Director
Luc Jobin Chairman
David O'Reilly Director-Scientific Research
Marina Fagundes Bellini Director-Digital & Information