After losing ground in 2018, BAT’s shares gained 27.4% in the first quarter, but have since given up some of those gains
Shares in Johann Rupert’s Reinet rose on Monday after the group said the net asset value of its main investment fund rose by a quarter in the three months to end-March as its investment British American Tobacco staged a partial recovery.
After sliding 43.4% in 2018, BAT’s JSE-listed shares gained 27.4% in the first quarter of 2019, but have since given up some of those gains. The stock is up 18.1% in the year to date. In February, BAT said that excluding currency fluctuations and the 2017 takeover of Reynolds American, adjusted earnings per share in 2018 rose 11.8%.
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