BAT aims to ignite profit with new-style smoking gadgets
Company will simplify traditional cigarette business to help vapour and tobacco-heated devices hit £5bn by 2022
Cigarette company British American Tobacco (BAT) is looking for blazing profit growth by 2022 from new-generation products such as vapour and tobacco-heated brands. Speaking at a Capital Markets Day presentation in London on Wednesday, BAT CEO Nicandro Durante said the group was already budgeting to break even in its tobacco-heated products (THP) and vapour divisions in financial 2018, with expectations for the delivery of “substantial profits” by 2022. Durante disclosed that THP and vapour (or e-cigarette) sales should double to top £1bn in financial 2018. The sales split should result in THP generating revenue of £600m and vapour products £400m.
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