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Correction to British American Tobacco 1Q Trading Update

British American Tobacco PLC's revenue grew 3.3% on a constant currency basis in 2020, above its revised guidance range of 1%-3%. "British American Tobacco 1Q Revenue Grew 3.3%, Above Revised Range," at 0634 GMT, incorrectly said that the growth was for the first quarter. The errors were also repeated in the flash headlines "British American Tobacco 1Q Constant Currency Revenue Growth 3.3%" at 0605 GMT and "BAT 1Q Constant Currency Revenue Growth Above Revised 1%-3% Guidance Range" at 0606 GMT. The correct version follows:

 

By Ian Walker

 

British American Tobacco PLC said Wednesday that the business has continued to perform well so far this year, accelerating momentum from the second half of 2020, and it backed its full-year guidance.

The owner of Camel and Lucky Strike cigarettes, as well as a range of new categories including vapor and tobacco-heating products, reiterated that the board is confident for 3%-5% revenue growth and high single-figure adjusted diluted earnings per share growth at constant currency post Covid-19.

BAT added that it continues to see strong consumer growth in its new categories business and is confident to meet its GBP5 billion revenue target for the business by 2025.

For the year ended Dec. 31, 2020, BAT reported revenue of 25.78 billion pounds ($35.87 billion), a rise of 3.3% on a constant currency basis, above its revised guidance range of 1%-3%. Adjusted EPS for 2020 was 215.6 pence.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

April 28, 2021 03:39 ET (07:39 GMT)

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