JSE-listed British American Tobacco PLC is the latest multinational company to announce plans to halt business operations in Russia, saying the current climate in the country has made operations unsustainable. The announcement from BAT comes as Russia’s invasion of Ukraine enters its third week and follows several large corporations like Shell, BP, McDonald’s, Apple and Toyota exiting the country.
“We now expect constant currency group revenue growth of 2% to 4% and mid-single figure constant currency adjusted diluted EPS growth. “In 2021, Ukraine and Russia accounted for 3% of group revenue and a slightly lower proportion of adjusted profit from operation,” BAT added. In February the group’s preliminary results for the year ended December 2021 anticipated group revenue growth for 2022 to come in at between 3% and 5%.
BATplc Matshoba_A Less tobacco is good in this pandemic....
BATplc Matshoba_A Read your own article! They NOT leaving but cutting back investments!😂😂😳
BATplc Matshoba_A There's something WORSE than smoking? There are things people who make and sell cigarettes' WON'T do?!! Flabbergasted am I. Dumbstruck. Astonished.