British American Tobacco PLC (BATS.LN) said Tuesday that it expects the recently passed U.S. Tax Cuts and Jobs Act will lead to a 6% increase in its 2018 earnings per share.
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The multinational tobacco group said that while the tax reform will have no impact on its underlying effective tax rate for 2017, it will reduce its 2018 effective tax-rate percentage to the "high-twenties."
It said it expects the changes will result in a one-time non-cash tax credit derived from the revaluation of deferred tax related to the acquisition of Reynolds American Inc.
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(END) Dow Jones Newswires
January 09, 2018 02:31 ET (07:31 GMT)