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United Kingdom

British American Tobacco PLC (BATS.L)

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Latest Key Developments (Source: Significant Developments)

Chairman Of British American Tobacco Richard Burrows Is To Step Down - Sky News
Monday, 8 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

BATS Says Quebec Class Action Judgment Against Imperial Tobacco Canada, Others On Mar. 1
Friday, 22 Feb 2019 

Feb 22 (Reuters) - British American Tobacco PLC ::BRITISH AM. TOBACCO - QUEBEC CLASS ACTION.BAT - QUEBEC COURT OF APPEAL ANNOUNCED THAT JUDGMENT IN QUEBEC CLASS ACTION AGAINST IMPERIAL TOBACCO CANADA, OTHERS WILL BE RENDERED ON MARCH 1.  Full Article

Sequana Updates On Litigation With British American Tobacco
Wednesday, 6 Feb 2019 

Feb 7 (Reuters) - SEQUANA SA ::ANNOUNCED ON WEDNESDAY THAT COURT OF APPEAL IN LONDON CONFIRMS FOR LARGEST PART DECISION MADE IN 1ST INSTANCE BY HIGH COURT OF JUSTICE IN LITIGATION BETWEEN SEQUANA AND BRITISH AMERICAN TOBACCO (BAT) .DECISION ONLY AFFECTS SEQUANA AND HAS NO IMPACT ON ITS SUBSIDIARIES ARJOWIGGINS AND ANTALIS WHICH ARE NOT A PARTY TO THIS LITIGATION .SEQUANA IS CURRENTLY REVIEWING TERMS OF DECISION AND INTENDS TO SEEK PERMISSION TO APPEAL WITH SUPREME COURT.  Full Article

British American Tobacco Announces Management Board Changes
Friday, 14 Dec 2018 

Dec 14 (Reuters) - British American Tobacco PLC ::JSE: BTI - BRITISH AMERICAN TOBACCO ANNOUNCES MANAGEMENT BOARD CHANGES.BRITISH AMERICAN TOBACCO PLC - CHIEF OPERATING OFFICER AND GROUP BUSINESS DEVELOPMENT DIRECTOR WILL CEASE TO EXIST AND ALL FOUR REGIONS.BRITISH AMERICAN TOBACCO PLC - NEW MANAGEMENT BOARD ROLES INCLUDING DIRECTOR, NEW CATEGORIES WILL BE CREATED.BRITISH AMERICAN TOBACCO PLC - MARINA BELLINI WILL BE APPOINTED AS DIRECTOR, DIGITAL AND INFORMATION.BRITISH AMERICAN TOBACCO PLC - PAUL LAGEWEG WILL BE APPOINTED AS DIRECTOR, NEW CATEGORIES.BAT - TADEU MAROCCO, REGIONAL DIRECTOR, EUROPE AND NORTH AFRICA, WILL BE APPOINTED TO A NEW MANAGEMENT BOARD ROLE, DIRECTOR, GROUP TRANSFORMATION.  Full Article

BATS Says FY Forecast Unchanged, De-Leveraging On Track
Wednesday, 12 Dec 2018 

Dec 12 (Reuters) - British American Tobacco PLC ::SECOND HALF PRE-CLOSE TRADING UPDATE 2018.BUSINESS CONTINUES TO PERFORM WELL AND FULL YEAR GUIDANCE REMAINS UNCHANGED.DE-LEVERAGING REMAINS ON TRACK.EXPECTING FY INDUSTRY VOLUME DECLINE AROUND 3.5%.THP AND VAPOUR ON TRACK TO REACH £900M OF FULL YEAR REPORTED REVENUE.US INDUSTRY VOLUME DECLINE REMAINS IN LINE WITH HISTORIC RANGES DOWN 4.4% YTD.CONTINUE TO EXPECT U.S. INDUSTRY CIGARETTE VOLUME TO BE DOWN 4.0% - 4.5% IN 2018.FY ADJUSTED EPS GROWTH EXPECTED TO BE IMPACTED BY CURRENCY TRANSLATION HEADWIND, AROUND 6% FOR FY18, AT CURRENT EXCHANGE RATES.  Full Article

British American Tobacco Names New Regional Director For AMSSA Region
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - British American Tobacco PLC ::BAT ANNOUNCES NEW REGIONAL DIRECTOR, AMSSA.LUCIANO TO COMMENCE NEW ROLE ON 1 JANUARY 2019 AT SAME TIME AS KINGSLEY TAKES UP HIS NEW ROLE AS CHIEF MARKETING OFFICER.  Full Article

BAT Says Jack Bowles Will Succeed Nicandro Durante As CEO
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - British American Tobacco PLC ::JSE: BTI - BRITISH AMERICAN TOBACCO ANNOUNCES CEO SUCCESSION.JACK BOWLES, CURRENTLY COO OF BAT'S INTERNATIONAL BUSINESS, WILL SUCCEED NICANDRO DURANTE AS CHIEF EXECUTIVE OFFICER OF BAT.JACK WILL BECOME CHIEF EXECUTIVE DESIGNATE ON 1 NOVEMBER 2018 AND WILL JOIN BOARD ON 1 JANUARY 2019.CEO NICANDRO RETIRES ON 1 APRIL 2019.  Full Article

UPDATE 2-European shares rise as short covering, earnings help temper tepid PMIs

* (There will be no European stock market report on Friday and Monday on account of Easter holidays. Reuters will resume coverage on Tuesday, April 23)