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British American Tobacco PLC (BATS.L)

BATS.L on London Stock Exchange

2,904.00GBp
16 Sep 2019
Change (% chg)

-66.00 (-2.22%)
Prev Close
2,970.00
Open
2,936.00
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2,957.00
Day's Low
2,904.00
Volume
3,689,447
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3,711.50
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2,249.00

Latest Key Developments (Source: Significant Developments)

British American Tobacco To Cut Around 2,300 Jobs Globally
Thursday, 12 Sep 2019 

Sept 12 (Reuters) - British American Tobacco PLC ::SIMPLIFYING BAT TO DRIVE NEW CATEGORY GROWTH.PROGRAMME ENVISAGES A REDUCTION OF AROUND 2,300 ROLES GLOBALLY.EXPECTED THAT OVER 20% OF SENIOR ROLES IN ORGANISATION WILL BE AFFECTED BY PROGRAMME.PROPOSALS WILL REDUCE MANAGEMENT LAYERS, CREATE FEWER "LARGER MORE ACCOUNTABLE" BUSINESS UNITS.PROGRAMME PLANNED TO BE SUBSTANTIALLY COMPLETE BY JANUARY 2020.CONSULTATION PROCESS NOW UNDERWAY WITH ALL STAFF WHO WILL BE IMPACTED BY REORGANIZATION.AS A RESULT OF PROPOSALS, CO TO BE BETTER PLACED TO DELIVER ON TARGET OF GENERATING £5 BILLION OF REVENUE IN NEW CATEGORIES BY 2023/24.  Full Article

British American Tobacco Announces Pricing Of $3.50 Bln Notes Offering
Wednesday, 4 Sep 2019 

Sept 4 (Reuters) - British American Tobacco PLC ::BRITISH AMERICAN TOBACCO ANNOUNCES PRICING OF $3,500,000,000 NOTES OFFERING.UNIT PRICED AN OFFERING OF $3.5 BILLION AGGREGATE PRINCIPAL AMOUNT OF GUARANTEED DEBT SECURITIES.  Full Article

British American Tobacco Finance Director Ben Stevens Steps Down
Tuesday, 6 Aug 2019 

Aug 6 (Reuters) - British American Tobacco PLC ::BEN STEVENS HAS STEPPED DOWN AS FINANCE DIRECTOR AND FROM BOARD OF COMPANY.BEN STEVENS WILL REMAIN AN EMPLOYEE OF COMPANY AND RETIRE FROM GROUP WITH EFFECT FROM 30 SEPTEMBER 2019.BEN STEVENS' ENTITLEMENT TO SALARY AND ALL OTHER CONTRACTUAL BENEFITS ASSOCIATED WITH HIS EMPLOYMENT SHALL CONTINUE UNTIL RETIREMENT DATE.  Full Article

B.A.T Capital Corp, B.A.T. International Finance P.L.C. File For Potential Debt Shelf Offering Guaranteed By British American Tobacco; Size Not Disclosed
Thursday, 18 Jul 2019 

July 17 (Reuters) - British American Tobacco PLC ::B.A.T CAPITAL CORP, B.A.T. INTERNATIONAL FINANCE P.L.C. FILE FOR POTENTIAL DEBT SHELF OFFERING GUARANTEED BY BRITISH AMERICAN TOBACCO; SIZE NOT DISCLOSED.  Full Article

British American Tobacco Says Intends To Consolidate New Category Portfolio Into Fewer Brands
Wednesday, 12 Jun 2019 

June 12 (Reuters) - British American Tobacco Plc ::FIRST HALF PRE-CLOSE TRADING UPDATE 2019.GROUP FULL YEAR (FY) GUIDANCE UNCHANGED.ON TRACK FOR A FY REDUCTION IN CURRENCY-NEUTRAL ADJUSTED NET DEBT/ADJUSTED EBITDA OF C.0.4X.FIRST HALF (H1) NEW CATEGORY REVENUE GROWTH APPROACHING OUR FY GUIDANCE RANGE.US BUSINESS IS PERFORMING WELL WITH GOOD PRICING AND CONTINUED VALUE SHARE GROWTH.BATS SEES ACCELERATION IN H2 NEW CATEGORY REVENUE GROWTH LEADING TO FY GROWTH AROUND MIDDLE OF 30-50% RANGE, ON A CONSTANT CURRENCY BASIS.FY GLOBAL INDUSTRY VOLUME EXPECTED TO BE DOWN AROUND 3.5%.ON TRACK FOR CONSTANT CURRENCY REVENUE GROWTH IN MID-UPPER HALF OF LONG-TERM GUIDANCE RANGE OF 3-5%.CONSTANT CURRENCY ADJUSTED OPERATING PROFIT GROWTH EXPECTED IN UPPER HALF OF LONG-TERM GUIDANCE RANGE OF 5-7% FOR FY.H1 CASH CONVERSION IS EXPECTED TO BE IMPACTED BY TIMING OF MSA PAYMENTS.BUSINESS REMAINS ON TRACK TO DELIVER FY19 FREE CASH FLOW AFTER DIVIDENDS OF £1.5BN.EXPECT FY US INDUSTRY VOLUME TO BE DOWN 4% TO 5%.VYPE EPEN3 CONTINUES TO PERFORM STRONGLY REACHING A VALUE SHARE OF 6.8% IN UK AND 12.1% IN FRANCE.INTEND TO CONSOLIDATE NEW CATEGORY PORTFOLIO INTO FEWER BRANDS .  Full Article

British American Tobacco Expects 2019 To Be Another Year Of Good Earnings Growth
Thursday, 25 Apr 2019 

April 25 (Reuters) - British American Tobacco PLC ::AGM STATEMENT.LOOKING FORWARD TO 2019 WE CAN EXPECT ANOTHER YEAR OF GOOD EARNINGS GROWTH.INVESTOR SENTIMENT OVER LAST YEAR HAS BEEN NEGATIVELY IMPACTED BY CONCERNS OVER POSSIBLE REGULATION IN US.INVESTOR SENTIMENT OVER LAST YEAR HAS BEEN NEGATIVELY IMPACTED BY COMPETITOR DYNAMICS IN NEW CATEGORIES RESULTING IN A SHARP FALL IN SHARE PRICE.IN AUGUST THIS YEAR OUR FINANCE DIRECTOR BEN STEVENS WILL BE RETIRING FOLLOWING A 30-YEAR CAREER AT BAT.BOARD AND NOMINATIONS COMMITTEE WILL BE FOCUSSED ON SUCCESSION PLANNING FOR CHAIRMAN ROLE.STRONG POSITION TO DELIVER LONG-TERM SUSTAINABLE GROWTH, REFLECTED IN CONTINUED ANNUAL DIVIDEND INCREASES.TADEU MARROCO, DIRECTOR OF TRANSFORMATION AND FORMER DIRECTOR OF BOTH BUSINESS DEVELOPMENT AND WESTERN EUROPE, WILL SUCCEED BEN.  Full Article

Chairman Of British American Tobacco Richard Burrows Is To Step Down - Sky News
Tuesday, 9 Apr 2019 

April 8 (Reuters) - :CHAIRMAN OF BRITISH AMERICAN TOBACCO RICHARD BURROWS IS TO STEP DOWN - SKY NEWS.BOARD OF BRITISH AMERICAN TOBACCO HAS INSTRUCTED HEADHUNTERS AT EGON ZEHNDER INTERNATIONAL TO FIND A SUCCESSOR TO RICHARD BURROWS - SKY NEWS.  Full Article

BAT Makes 436 Mln Stg Provision After Canada Court Ruling
Tuesday, 5 Mar 2019 

March 5 (Reuters) - British American Tobacco PLC ::ACCOUNTING CONSEQUENCES OF QUEBEC JUDGMENT.THERE WILL BE NO IMPACT FROM THE CHARGE TO RATIO OF ADJUSTED NET DEBT TO ADJUSTED EBITDA FROM QUEBEC JUDGMENT.PROVISION OF APPROXIMATELY £436 MILLION WILL BE TREATED AS AN ADJUSTING EXPENSE.ITCAN INTENDS TO SEEK LEAVE TO APPEAL JUDGMENT TO SUPREME COURT OF CANADA.PROVISION OF ABOUT £436 MILLION WILL BE CHARGED TO GROUP'S CONSOLIDATED INCOME STATEMENT IN 2019 IN RELATION TO QUEBEC RULING.  Full Article

BAT FY Adj. EPS 296.7P; FY Rev Rises
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - British American Tobacco PLC ::PRELIMINARY ANNOUNCEMENT - YEAR ENDED 31 DECEMBER 2018.FY EARNINGS PER SHARE 263.2P.FY ADJUSTED EARNINGS PER SHARE 296.7P.FY REVENUE 24,492 MILLION POUNDS AT CONSTANT CURRENCY RATES VERSUS 20,292 MILLION POUNDS AS REPORTED A YEAR EARLIER.OUTPERFORMANCE IN COMBUSTIBLES, WITH MARKET SHARE UP 40 BPS AND STRATEGIC CIGARETTE BRAND VOLUME UP 4.8% IN FY.GROUP CONTINUES TO EXPECT STRONG NEW CATEGORY GROWTH, LEADING TO NEW CATEGORY REVENUE OF £5 BILLION BY 2023/2024.LOOKING INTO 2019, CO CONFIDENT OF ANOTHER YEAR OF HIGH SINGLE FIGURE ADJUSTED CONSTANT CURRENCY EARNINGS GROWTH.BOARD'S PROPOSAL TO INCREASE DIVIDEND BY 4%.FY VOLUME FROM CIGARETTES AND THP GREW 3.3%.FY ADJUSTED REVENUE FROM STRATEGIC PORTFOLIO WAS UP 8.5% ON A CONSTANT RATE BASIS.FY TOTAL CIGARETTE AND THP VOLUME DECLINED 3.5% TO 708 BILLION.DIVIDEND PER SHARE INCREASES 4.0% TO 203.0P, PAYABLE IN FOUR QUARTERLY DIVIDEND PAYMENTS OF 50.75P PER SHARE.RESULTS BENEFITTED FROM FULL YEAR EFFECT OF RAI ACQUISITION, WHICH INCLUDED CERTAIN ACCOUNTING IMPACTS.CONTINUES TO EXPECT TO DELIVER OVER US$400 MILLION OF SYNERGIES BY END OF 2020.DURING 2018, US FDA REGULATORY PROPOSALS CONTRIBUTED TO INCREASED UNCERTAINTY IN US OPERATING ENVIRONMENT.CONFIDENT IN ABILITY TO MANAGE FDA PROPOSALS RELATING TO PROPOSED BAN OF MENTHOL IN CIGARETTES.GROWTH OF VAPOUR IN US AND GROWTH IN GLO, NOTABLY IN JAPAN IN FY.  Full Article

British American Tobacco Says Ben Stevens To Step Down As Finance Director
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - British American Tobacco PLC ::BRITISH AMERICAN TOBACCO ANNOUNCES FINANCE DIRECTOR’S RETIREMENT.BEN STEVENS HAS INFORMED COMPANY OF HIS INTENTION TO STEP DOWN.BEN WILL BE SUCCEEDED AS FINANCE DIRECTOR BY TADEU MARROCO.PRIOR TO APPOINTMENT ON 5 AUGUST 2019, TADEU WILL BE APPOINTED AS DEPUTY FINANCE DIRECTOR WITH EFFECT FROM 1 MARCH 2019.  Full Article

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BAT stubs out 2,300 jobs as new CEO tackles tobacco sector changes

British American Tobacco plans to lay off 4% of its workforce, including a fifth of senior managers, as recently-promoted chief executive Jack Bowles grapples with challenges to the group's legacy products and health fears over vaping.