British American Tobacco Launches Buyback Program of Up to GBP2 Billion, 2021 Pretax Profit Up
11 Fevereiro 2022 - 4:57AM
Dow Jones News
By Anthony O. Goriainoff
British American Tobacco PLC said Friday that it was launching a
share-buyback program of up to 2 billion pounds ($2.71 billion),
and that 2021 pretax profit rose after booking lower costs.
The FTSE 100 cigarette maker--which houses the Kent, Dunhill and
Lucky Strike brands--said its buyback program will start on Monday
and will end no later than Dec. 31. It added that the number of
ordinary shares permitted to be purchased is 229.4 million.
Pretax profit for last year was GBP9.16 billion, compared with
GBP8.67 billion in 2020, the company said.
Adjusted profit from operations was GBP10.23 billion, compared
with GBP11.37 billion the year before, BAT said.
Revenue for the full year fell to GBP25.68 billion from GBP25.78
billion in the year prior. Revenue consensus for the year was
GBP25.63 billion, taken from FactSet and based on 15 analysts'
forecasts.
BAT said it expects constant-currency revenue growth of 3% to 5%
this year. It said it expects high-single-digit adjusted
earnings-per-share growth in 2022, and that growth will be weighted
toward the second half.
The company added that it expects global tobacco industry volume
to be down around 2.5% in 2022.
The board declared an interim dividend of 217.8 pence, compared
with 215.6 pence a share the year before.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
February 11, 2022 02:42 ET (07:42 GMT)
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