UPDATE 1-BAT sticks to earnings forecast, flags first signs of sales weakness

FILE PHOTO: A logo is seen at the British American Tobacco offices in London, Britain October 21, 2016. REUTERS/Stefan Wermuth

(Reuters) – British American Tobacco (BATS.L) said on Thursday it was maintaining its guidance of high single figure earnings per share growth for 2020 while expecting some impact on volume and revenue growth in the second-quarter due to the coronavirus.

The world’s No. 2 tobacco company expects 2020 constant currency adjusted revenue growth around the low end of the 3% to 5% range and will continue with its dividend pay-out ratio of 65% of adjusted diluted EPS and growth, it said.

Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham


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