TOBACCO INDUSTRY
BAT aims to ignite smokeless products
Cigarette group British American Tobacco (BAT) aims to more than double revenue from next-generation products by the end of 2018 to "substantially more than £1bn (R17.35bn)". These products comprise vapour and tobacco-heating products as well as oral tobacco and nicotine products such as snus and moist snuff. These smokeless products are largely seen as "less risky" tobacco and nicotine offerings to traditional cigarettes. Speaking at BAT’s annual general meeting in London on Wednesday, chairman Richard Burrows said BAT’s tobacco-heating product, "glo", was already demonstrating this opportunity in Japan and had grown to a 4.3% share of the total market. He said this was achieved despite capacity constraints limiting the supply of heating devices. "We remain confident that these constraints will be removed during the second quarter," he said. Burrows said BAT’s success in next-generation products had prompted a further increase in investment plans during 2018, with a number of roll-...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.