BAT published its 2025 First Half Pre-Close Trading Update yesterday (June 3), followed by a short conference call and Q&A session hosted by Tadeu Marroco, Chief Executive, Soraya Benchikh, Chief Financial Officer, and Victoria Buxton, Group Head of Investor Relations.
“Our revenue performance in H1 is slightly ahead of our previous guidance, and we now expect to deliver FY revenue growth of 1-2%, supporting 1.5 to 2.5% adjusted profit from operations growth,” Marroco said. “2025 is a deployment year and, as previously highlighted, we expect our performance to be H2 weighted, mainly driven by the roll-out of New Category innovations in key markets from the middle of the year.”
Improved performance in the modern oral category and U.S. combustibles led the company to raise 2025 revenue growth guidance to 1%-2% from just 1% prior, analysts said. BAT’s shares went up 2% after the reporting.
Click here for the full update and a transcript of Marroco’s comments.
