Skip to content
Search
AI Powered
Latest Stories

Strong demand for e-cigarettes lifts British American Tobacco first-half sales

Strong demand for e-cigarettes lifts British American Tobacco first-half sales

British American Tobacco on Wednesday reported better-than-expected revenue for the first half of the year as the Lucky Strike cigarette maker added a record number of new customers for its vaping products.

Total adjusted revenue came in at £12.18 billion for the six months ended June 30, ahead of the £12.02bn analysts had expected, according to a company-supplied estimate.


The company also kept its full-year forecast for over 5 per cent sales growth in constant currency terms.

The company said it added 2.6 million more customers in the first half, bringing its total user base of non-combustible products to 16.1 million, a new record.

Revenue from the group's New Categories reached £942 million, up 50 per cent, with 11.8 per cent of group revenue delivered by non-combustible products.

"This demonstrates our accelerating transformation driven by our multi-category portfolio, with continued key market share gains in all three New Categories," Jack Bowles, chief executive, said.

"We are building strong, global brands of the future with Vuse, Velo and glo. Our rapid growth in New Categories is driving significant scale benefits and 2021 is shaping up to be a pivotal year in our journey towards A Better Tomorrow. There is great momentum across the business and we are well on track to meet our targets of £5bn of New Category revenue by 2025 and 50m noncombustible product consumers by 2030."

Adjusted earnings per share for the first half came in at 154.2 pence, ahead of the 151.5 pence average estimate. The Vuse e-cigarettes and glo tobacco heating products maker also stuck to growth expectation for constant currency adjusted earnings per share in the mid-single digit range for the full-year.

More for you

Sugro UK partners with Britvic to launch industry-first sample box

Sugro UK partners with Britvic to launch industry-first sample box

Leading wholesale buying and marketing group Sugro UK has collaborated with Britvic Soft Drinks, a global organisation with 39 much-loved brands sold in over 100 countries, to launch a groundbreaking Fast Food Sample Box.

The sample box is specifically designed for ICS UK LTD customers, giving them a unique opportunity to sample and experience new Fast Food soft drinks offerings firsthand.

Keep ReadingShow less
Plant-based ready meal

Plant-based ready meal brand on brink of collapse

British plant-based ready meal maker Allplants has filed a notice of intention to appoint administrators, citing ongoing financial losses, stated recent reports.

Allplants, known as the UK’s largest vegan ready meal brand, has faced mounting losses over recent years. Filing the notice provides the company with a critical window to explore options to avoid liquidation, such as restructuring, refinancing, or negotiating a sale.

Keep ReadingShow less
sottish retail-wholesale

Scottish retail-wholesale figure celebrated at University of Stirling graduation

Entrepreneur and businessperson Stanley Morrice, an influential figure in the retail and wholesale sectors, received an Honorary Doctorate from the University of Stirling at Stirling’s winter graduation held today (22).

Stanley, from Fraserburgh, is being recognised for his services to Scottish food, drink and agriculture. He entered the sector as a school leaver. In 1993, he joined Aberdeen-based convenience stores Aberness Foods, which traded as Mace. He rose to become Sales Director, boosting income by 50 per cent and tripling profits, and went on to be Managing Director, successfully leading the business through a strategic sale to supermarket group Somerfield.

Keep ReadingShow less
consumer cheer
iStock image
iStock image

Consumers cheer up as Budget nerves lift: GfK

British consumers have turned less pessimistic following the government's first budget and the US presidential election and they are showing more appetite for spending in the run-up to Christmas, according to a new survey.

The GfK Consumer Confidence Index, the longest-running measure of British consumer sentiment, rose to -18 in November, its highest since August and up from -21 in October which was its lowest since March.

Keep ReadingShow less
Retail Sales
Photo: iStock

Retail sales take bigger-than-expected hit in October

British retail sales fell by much more than expected in October, according to official data that added to other signs of a loss of momentum in the economy in the run-up to the first budget of prime minister Keir Starmer's new government.

The Office for National Statistics (ONS) said sales volumes have fallen by 0.7 per cent in October. A Reuters poll of economists had forecast a monthly fall of 0.3 per cent in sales volumes from September.

Keep ReadingShow less