March 18, 2020 / 12:07 PM / 22 days ago

BRIEF-British American Tobacco Says Co Maintains FY Outlook For Constant Currency Adj Revenue Growth

March 18 (Reuters) - British American Tobacco PLC:

* BRITISH AM. TOBACCO - BAT CAPITAL MARKETS WEBCAST

* BAT - IN 2020 WE EXPECT TO MAKE FURTHER PROGRESS TOWARDS OUR AMBITION OF £5BN NEW CATEGORY REVENUE IN 2023/24

* BAT - AS YET, WE HAVE SEEN NO MATERIAL IMPACT FROM COVID-19

* BAT - OVERALL, DESPITE GLOBAL UNCERTAINTY, BUSINESS IS PERFORMING WELL

* BAT - HAVE ALREADY ACHIEVED CLOSE TO 60% OF PRICING WE PLANNED FOR 2020

* BAT - AT PRESENT MAINTAINING EXPECTATIONS FOR 2020 GLOBAL INDUSTRY CIGARETTE AND THP VOLUME TO BE DOWN C.4%

* BAT - MAINTAIN OUR GUIDANCE FOR CONSTANT CURRENCY ADJUSTED REVENUE GROWTH OF 3-5% FOR YEAR

* BAT - REMAIN COMMITTED TO A 65% DIVIDEND PAY-OUT RATIO ON ADJUSTED DILUTED EPS AND GROWTH IN STERLING TERMS

* BAT - NOW EXPECT A HEADWIND OF LESS THAN 1% ON FULL YEAR ADJUSTED DILUTED EPS GROWTH, ALTHOUGH EXCHANGE RATES ARE CLEARLY VERY CHANGEABLE.

* BAT - EXPECT TO CONTINUE TO DELEVER BALANCE SHEET AND REMAIN COMMITTED TO A 65% DIVIDEND PAY-OUT RATIO ON ADJUSTED EPS AND GROWTH IN STERLING TERMS

* BAT - £1BN OF EFFICIENCIES OVER NEXT THREE YEARS FROM AN EXTENDED PROJECT QUANTUM

* BAT - EXPECT TO MAKE FURTHER PROGRESS TOWARDS AMBITION OF £5BN NEW CATEGORY REVENUE IN 2023/24. Source text for Eikon: Further company coverage:

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