By Michael Susin
British American Tobacco backed its targets for 2024 and said it expects second-half revenue growth to accelerate.
The FTSE 100 tobacco group on Wednesday said that it is on track to deliver low-single-digit organic growth in revenue and adjusted profit from operations for 2024.
A company-compiled total revenue consensus for the year stands at 26.25 billion pounds ($33.53 billion), with adjusted operating profit expected at 12 billion pounds.
The company said second-half revenue growth is expected to improve when compared with the first half, mainly driven by increased sales in the new category and combustibles segments.
Positive momentum is being supported by its investment in the U.S., it said.
The cigarette maker--which houses the Kent, Dunhill and Lucky Strike brands--also backed its midterm expectations as it continues to anticipate 2026 organic revenue growth of 3% to 5%. The company also said it expects adjusted profit from operations, on an organic constant-currency basis, to grow by mid-single-digit percentage.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
12-11-24 0240ET