Skip to Content
Global News Select

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


(END) Dow Jones Newswires

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

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.