Home Business NewsBritish American Tobacco expects profit growth

British American Tobacco expects profit growth

by LLB Reporter
25th Apr 19 2:21 pm

British American Tobacco the second largest tobacco company in the world, are expecting a good year of profit growth despite tight regulations in the US.

Speaking at the annual general meeting on Thursday, chairman Richard Burrows said, โ€œanother year of high single figure adjusted constant currency earnings growthโ€ for 2019 and they are proposing to increase its dividend by 4%.

โ€œWhile our business is continuing to perform very well, we are very conscious that investor sentiment over the last year has been negatively impacted by concerns over possible regulation in the U.S. and competitor dynamics in new categories resulting in a sharp fall in our share price.โ€

He added, โ€œI am, however, confident that the business is in good shape and that the causes of these concerns in fact present significant opportunities for future growth.โ€

Last month British American Tobacco lost an appeal in a long running court case and took a ยฃ436m hit, as disgruntled smokers bought a case against them.

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