British American Tobacco Provides AGM Update
Why we think this is neutral
This RNS announcement is a general update from the company's AGM, which does not contain any specific financial figures, contract news, or other mandatory news types. The update provides an overview of the company's 2024 performance and outlook for 2025, but does not contain any major surprises or significant new information.
Key Points
- 2024 results in line with guidance, with Group revenue down 5.2% on a reported basis but up 1.3% on an organic basis
- New Categories business contribution increased by £251 million on an adjusted organic basis
- Expect to return to profit growth in 2025 and reiterate mid-term algorithm of 3-5% revenue growth and 4-6% growth in adjusted profit from operations
Summary
British American Tobacco provided an update on its 2024 performance and 2025 outlook at its Annual General Meeting. The company reported that its 2024 results were in line with guidance, with Group revenue down 5.2% on a reported basis but up 1.3% on an organic basis at constant currency rates. The company's New Categories business continued to perform well, with contribution increasing by £251 million on an adjusted organic basis. Looking ahead, the company expects to return to profit growth in 2025 and reiterated its mid-term algorithm of 3-5% revenue growth and 4-6% growth in adjusted profit from operations.