Investing.com
Published Nov 27, 2019 02:21AM ET
Investing.com -- Here is a summary of regulatory releases from the London Stock Exchange on Wednesday, 27th November. Please refresh for updates.
Tobacco giant British American Tobacco (LON:BATS) said it’s “on track for a strong year”, with adjusted revenue growth and operating profit both in the upper half of their respective target ranges.
The brewer has been reshuffling its asset portfolio against a background of steady decline in the pub business and has benefited more than many from direct sales of its beers to supermarkets and off-licenses. Total volumes in brewing rose 1% on the year.
Marston’s also said its sharpened focus on food-led pubs is starting to bear fruit, adding that it’s “well prepared” going into the crucial holiday season.
Drinks maker Britvic (LON:BVIC) raised its dividend by 6.4% to 30 pence a share after a 2.8% rise in revenue and a 20 basis point improvement in operating margins.
Net profit fell to 80.9 million pounds, while adjusted earnings per share rose 6.2% to 59.8p, slightly below estimates.
“While the current macro-economic environment remains uncertain, we do expect to make further progress in 2020,” Chief Executive Simon Litherland said in a statement.
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