LONDON (dpa-AFX) - British American Tobacco plc (BATS.L, BTI) reported Wednesday that its fiscal 2020 profit attributable to shareholders increased to 6.40 billion pounds from last year's 5.70 billion pounds.
Earnings per share climbed 12 percent to 278.9 pence from 249 pence a year ago.
Adjusted attributable profit was 7.61 billion pounds or 331.7 pence per share, compared to 7.42 billion pounds or 323.8 pence per share a year earlier.
Profit from operations grew 10.5 percent from last year to 9.96 billion pounds, and adjusted profit from operations grew 4.8 percent to 11.37 billion pounds.
Operating margin of 38.6 percent improved 380 basis points.
Revenue edged down 0.4 percent to 25.776 billion pounds from last year's 25.877 billion pounds. Revenues grew 3.3 percent at constant currency rates.
Cigarette and THP volume share increased 30 basis points.
Further, the company announced full year dividend of 215.6 pence per share, up 2.5 percent.
Looking ahead for fiscal 2021, the company expects mid-single figure constant currency adjusted earnings per share growth reflecting continued COVID-19 impacts.
The company also expects constant currency revenue growth of 3 percent-5 percent, and continued progress towards our New Categories revenue target of 5 billion pounds in 2025.
Global tobacco industry volume is expected to be down around 3 percent. US market dependent on COVID-19 uncertainties.
Post COVID-19, the company said it is confident in its guidance of 3-5 percent revenue and high single-figure adjusted earnings per share growth at constant currency.
Copyright RTT News/dpa-AFX
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