British American Tobacco PLC (BATS.LN) said Wednesday that it expects to face translation headwinds of 7% on organic operating profit and 8% on earnings per share for the year if current exchange rates continue.
The maker of Dunhill, Kent, Lucky Strike, Pall Mall and Rothmans cigarettes, as well as a range of new generation vapor and electronic products, added that it plans to increase investment in its next generation products this year, with a significant number of roll-outs and launches planned toward the end of the third quarter.
BATs said that although trading conditions remain challenging, the group remains on track for another good year of earnings growth, excluding the impact of currency translation.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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