January 9, 2018 / 7:14 AM / a year ago

BRIEF-BAT Says U.S. Tax Reform To Result In Non-Cash Exceptional Tax Credit

Jan 9 (Reuters) - British American Tobacco Plc:

* IMPACT ON BAT OF NEW US TAX LEGISLATION

* ‍FOR YEAR TO 31 DECEMBER 2017 ANNOUNCED CHANGES WILL HAVE NO IMPACT ON GROUP’S UNDERLYING EFFECTIVE TAX RATE​

* ‍FOR YEAR TO 31 DEC, CURRENTLY ANTICIPATE THAT CHANGES WILL REDUCE GROUP’S EFFECTIVE TAX RATE PERCENTAGE TO HIGH-TWENTIES​

* ‍ANTICIPATE THAT CHANGES WILL RESULT IN A NON-CASH EXCEPTIONAL TAX CREDIT AS A RESULT OF REVALUATION OF DEFERRED TAX BALANCES ​

* ‍ALL OTHER THINGS BEING EQUAL, CHANGES WOULD RESULT IN A BENEFIT OF 6% TO FULL YEAR 2018 EARNINGS PER SHARE​

* ‍NON-CASH EXCEPTIONAL TAX CREDIT AS A RESULT OF REVALUATION OF DEFERRED TAX BALANCES ARISING FROM ACQUISITION OF REYNOLDS AMERICAN INC​ Source text for Eikon: Further company coverage:

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