British American Tobacco PLC recently reported its interim results for the period ending 30 June 2020. The company reported revenue of £12,271m for the first six months (+0.8% in constant currency terms). BATS reported that 10% of its revenue was derived from its non-combustible categories, and this segment’s consumer base increased to 11.6 million (+1.1 million since FY2019). Reported profit from operations was up by 16.4% to £5,097m, with reported operating margin up by 550 bps at 41.5%. The Quebec class action in Canada charge impacted the prior period.
The company is trading at a forward PE of 7.58 and a dividend yield of 6.47%.
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