BAT sees earnings boost from weak pound

Dhaka,  Thu,  24 August 2017
Published : 14 Jun 2017, 13:12:24

British American Tobacco sees earnings boost from weak pound

BAT sees earnings boost from weak pound
British American Tobacco (BAT) has continued to perform "very well" and was trading in line with its expectations from the current weakness of the British pound, the company said Wednesday.

The world's most international tobacco group said it continued to record market share growth and noted that profit growth was expected to be weighted to the second half of the year, reflecting the phasing of volume shipments, product investment and marketing spend.

BAT said that if exchange rates stayed the same for the remainder of the year, there would be an adverse transactional impact on operating profit of 2.0 per cent for both the first half and the full year.

But the translation impact would be a tailwind on operating profit of about 13 per cent for the half year and 7.0 per cent for the full year.

The First-half earnings per share was expected to benefit from a significant translational foreign exchange tailwind of around 14 per cent, according to Reuters.
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