The owner of Lucky Strike and Camel has raised its annual growth forecasts after more smokers turned to vapes and electronic cigarettes.
British American Tobacco said yesterday that it had attracted about 1.4 million new customers to its supposedly less harmful products, with about 14.9 million consumers using “new category” nicotine devices.
The world’s second largest tobacco maker said that its lower-risk products were sold in 53 countries. Growth in the segment continued to accelerate, it said, adding that it had won market share from rivals.
The FTSE 100 group expects its revenues to increase by more than 5 per cent this year after stripping out the effects of currency swings. Previously it had forecast growth of between 3 per cent and 5 per cent.
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Simon Duke – The Times – 2021-06-09.
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