Dec 9, 2020

City Bulletin: Lockdown boredom boosts earnings at BAT

Lockdown boredom has been useful for British American Tobacco, which lifted its 2020 revenue forecast to reflect a smaller than expected hit from Covid-19. The world's second-biggest cigarette maker said it expects organic revenue growth to be at the upper end of its previous forecast of 1 per cent to 3 per cent. Constant currency earnings per share growth will be in the mid-single digits, as previously indicated. Balfour Beatty said it expects its order book to grow to £17bn by the year end, up 20 per cent year on year, and will be paying a final dividend. JPMorgan Chase's trading and investment banking revenues "Are up about 20 per cent" so far in the fourth quarter, chief executive Jamie Dimon said on Tuesday.

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