June 12, 2018 / 6:21 AM / 4 months ago

British American Tobacco flags currency headwinds

LONDON, June 12 (Reuters) - British American Tobacco said trading in the first half of the year was in line with expectations but warned that currency exchange rates would limit growth.

The world’s second-biggest international tobacco company by revenue said exchange rates would reduce earnings per share growth by 9 percent for the first half of the year and 6 percent for the full year, at current spot rates.

The maker of Lucky Strike and Dunhill cigarettes made the comments in a trading update on Tuesday ahead of its half-year results, scheduled for July 26.

The company also repeated that adjusted revenue and profit growth would be weighted to the second half of the year, due to several items affecting its first-half comparisons.

Reporting by Martinne Geller, editing by Louise Heavens

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