LONDON (dpa-AFX) - British American Tobacco PLC (BATS.L) on Friday announced profit before taxation of 9.163 billion pounds for the year ended 31 December 2021, higher than 8.672 billion pounds in the prior year. The company also announced a share repurchase program for 2022 to the tune of 2 billion pounds.
Profit for the year increased to 6.789 billion pounds or 295.6p per share in the year compared with 6.4 billion pounds or 278.9p per share a year ago.
Excluding one-time items, earnings were 7.556 billion pounds or 329p per share.
The company posted a revenue of 25.684 billion pounds in the year, compared with 25.776 billion pounds recorded last year.
Adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization, was down at 11.874 billion pounds compared with 12.116 billion pounds in the year-earlier period.
Driven by strong cash flow, the company announced 2 billion pounds share buyback for 2022.
Further, it declared an interim dividend of 217.8p per share for the year ended 31 December 2021, 1% higher than last year, payable in four equal quarterly instalments of 54.45p per share in May 2022, August 2022, November 2022 and February 2023.
The company's free cash flow, before payment of dividends, increased 2.1% year-over-year to $7.447 billion pounds in 2021.
Additionally, the Group's adjusted net debt declined 9.9% year-over-year to 35.548 billion pounds.
Looking forward to 2022, the company expects revenue to grow in the range of 3%-5% in constant currency. Adjusted EPS growth in constant currency is expected at high-single figure.
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