British American Tobacco shares are trading lower after the company said it will take an accounting non-cash adjusting impairment charge of around £25 billion in 2023.
Portfolio Pulse from Benzinga Newsdesk
British American Tobacco (BTI) announced it will incur a non-cash accounting impairment charge of approximately £25 billion in 2023, causing its shares to trade lower.
December 06, 2023 | 3:18 pm
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NEGATIVE IMPACT
British American Tobacco's stock is trading lower due to the announcement of a significant non-cash impairment charge of around £25 billion for 2023.
The announcement of a large impairment charge is typically viewed negatively by investors as it reflects adjustments to asset valuations that can affect the company's balance sheet strength. This is likely to create downward pressure on BTI's stock price in the short term as the market absorbs the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100