BAT: FY25 Pre-Close Update

Results summary: BAT: FY25 Trading Update In the BAT: FY26 Growth Algorithm write-up, based on our modelling, we noted our expectation for BAT to deliver 3% net revenue and 5% operating income growth. BAT stated that they will deliver the low-end of the mid-term growth range in 2026 - that corresponds...

BAT: FY25 Trading Update

Ahead of the FY25 Trading Update release Release date: December 9, 2025 (before the LSE opening bell) Consensus estimates: 2.1% revenue and 2.1% adj. operating profit growth in 2025; acceleration in financial delivery to 3.5% revenue and 4.7% adj. operating profit growth in 2026 British American Tobacco (BAT) repeatedly committed...

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