BAT: adjusted EPS up 4% in 2023

(CercleFinance.com) - BAT reports 2023 sales of £27.
2bn, down 1.3% y-o-y (+1.6% on an adjusted basis).

Sales of new category products (vaping-related) reached £3.3bn, up 15.6% y-o-y.

Against this backdrop, BAT announces adjusted earnings of £12.4bn, up 3.1%, or adjusted EPS of 375.6 pence (+4%).

For 2024, the Group expects a decline of around 3% in the volume of the global tobacco industry, and confirms its target of £5bn in sales from new product categories.

BAT expects a weighted performance in H2, given the phasing of planned investments and the expected slow macroeconomic recovery in the US.


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