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British American Tobacco Reports Strong Growth in New Category Sales

H IQOS资讯网2021-07-29Views 239Source IQOS资讯网

British American Tobacco reported revenue of £12.18 billion ($16.89 billion) for the six months ended June 30, down 0.8% year-on-year, or up 8.1% on an adjusted basis. Revenue from new categories increased by more than 50% to £883 million. Total operating

British American Tobacco reported revenue of £12.18 billion ($16.89 billion) for the six months ended June 30, down 0.8% from the same period in 2020 (up 8.1% on an adjusted basis). Revenue from new categories rose by more than 50% to £883 million. Total operating profit was £4.91 billion, down 3.7% from the same six-month period last year (up 5.4% on an adjusted basis).

British American Tobacco Chief Executive Officer Jack Bowles said in a statement: “This is an exciting period of growth for new categories, with first-half new category revenue up 50% at constant currency.” “Our non-combustible products consumer base increased by 2.6 million consumers, the largest increase we have ever achieved, reaching 16.1 million. This shows that we are accelerating our transformation, driven by our multi-category portfolio, while key market share across all three new categories continues to grow.”

“We are building strong future global brands with Vuse, Velo and Glo. All of this is underpinned by industry-leading multi-category consumer insight and science, with increasing digitalization. We added a further £346 million of investment in the first half, funded by continued value growth in combustibles, and we expect to achieve our £1 billion Quantum savings target 12 months ahead of schedule. We have now raised our savings target to £1.5 billion by 2022.”

“Our rapid growth in new categories is driving significant scale benefits, and 2021 will be a pivotal year in our journey toward ‘A Better Tomorrow.’”

Tags:British American Tobacco

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