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BATS revises earnings guidance as investments increase

The tobacco giant said the hit from the pandemic was not as bad as originally anticipated
BATS revises earnings guidance as investments increase
  • Adjusted earnings growth comes up short of earlier guidance
  • Further debt reduction through 2021 
IC TIP: Hold at 2902p

British American Tobacco (BATS) has revised its earnings guidance as part of a pre-close trading update for 2020. Though the group now anticipates a softer impact on sales from Covid-19 than originally anticipated, it also revealed that adjusted EPS is now expected to grow by mid-single-figure percentages, compared with earlier guidance for a high-single-figure increase.

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