British American Tobacco (BATS LN) AGM Statement: continues to expect performance at lower end of our guided range this year
- Expect profit delivery to remain second-half weighted.
- Targets 4-6% adj profit from operations and 5-8% adj diluted EPS growth mid-term.
- Expects to deliver over GBP 50bln free cash flow between 2024 and 2030.
- Closely monitoring situation in middle East as it evolves. Conflict is not currently having a significant impact on group's business
Context
British American Tobacco's AGM statement suggests a cautious outlook, with performance projected at the lower end of their guided range for the year. This indicates that while they expect mid-term adjusted profit growth, the second-half weighting may dampen overall results, prompting investors to weigh implications for cash flow and market positioning amid geopolitical tensions in the Middle East.
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