By Anthony O. Goriainoff
British American Tobacco said it expected currency effects to hit adjusted profit for the year but that it was nonetheless on track to meet guidance.
The FTSE 100 tobacco group on Tuesday said it anticipated a currency translation headwind of around 5% on adjusted profit from operations.
Still, the company said it was on track to deliver low-single-digit organic growth in revenue and adjusted profit from operations for 2024. Company-compiled total revenue consensus for the year stands at 26.25 billion pounds ($34.28 billion), with adjusted operating profit expected at 12 billion pounds.
The cigarette maker–which houses the Kent, Dunhill and Lucky Strike brands–said that by 2026 organic revenue was expected to grow 3% to 5%, and that adjusted profit from operations, on an organic constant-currency basis, would grow by mid-single-digit percentage.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
10-15-24 1221ET
