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

Budget 2024: Local shops to face significant new pressure

(Photo by JUSTIN TALLIS/AFP via Getty Images)

(Photo by JUSTIN TALLIS/AFP via Getty Images)

Budget 2024: Local shops to face significant new pressure

Local shops will face significant new pressures as a result of today’s Budget, the Association of Convenience Stores (ACS) has warned.

Chancellor Rachel Reeves' budget's impact will be felt unevenly across the UK’s 50,000 convenience stores, with some measures such as business rate relief and the increased employment allowance mitigating costs for smaller independent stores, while providing no help for chains and larger independent businesses.

Keep ReadingShow less
Post Office cash deposits and withdrawals
Post Office, DPD partners to rollout ‘Click and Collect’ services
Post Office, DPD partners to rollout ‘Click and Collect’ services

Parliament to launch inquiry into Post Office Horizon scandal compensation delays

Parliament is to launch an inquiry into delays in compensation settlements for sub postmasters affected by the Horizon scandal.

The newly-formed Business and Trade Select Committee will call ministers, subpostmasters and their lawyers to give evidence next week with a second session to follow in mid-November. The Committee’s chair, Liam Byrne MP told ITV News that there was “definitely a delay” in people coming forward for payment.

Keep ReadingShow less
C-store body warns of 'inflation-busting increase in wage costs'
Woman Holding British Pound
Getty Images/iStockphoto

C-store body warns of 'inflation-busting increase in wage costs'

Convenience store body Association of Convenience Stores (ACS) today (30) has warned the Chancellor about the negative effects of the new National Living Wage (NLW) increase, a day after the Chancellor announced a pay rise for over 3 million workers next year, with NLW rates rising by 6.7 perc cent.

From April 2025, the NLW will increase from £11.44 to £12.21 while 18-20 National Minimum Wage will rise by £1.40 per hour to £10 - the largest increase on record, marking the first step towards a single adult rate.

Keep ReadingShow less
Bacup Wine and Convenience shop, 34 Burnley Road, Bacup.

Bacup Wine and Convenience shop, 34 Burnley Road, Bacup.

Robbie MacDonald via LDRS

Shop’s licence bid rejected over illegal vapes and ‘no regard’ for children’s safety

A Rossendale shop has had a licence bid rejected after repeatedly selling vapes to children and having illegal products on its premises.

Management at the Ibra Superstore at 34 Burnley Road, Bacup, have shown ‘no regard’ for children’s protection and safety, and have insufficient controls for licensing, Rossendale councillors have ruled.

Keep ReadingShow less
SPAR retailer hits target to secure £100,000 free stock from James Hall

SPAR retailer hits target to secure £100,000 free stock from James Hall

SPAR North of England retailer Dara Singh Randhawa’s family store has been awarded £100,000 of free stock after hitting all his targets since moving to the symbol.

Dara and his family, who have their SPAR store in Patrington in the East Riding of Yorkshire, joined SPAR through its association with James Hall & Co. Ltd in August 2023 having taken the decision to maximise the store’s potential.

Keep ReadingShow less