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British American Tobacco ( (GB:BATS) ) has shared an update.
British American Tobacco reported its preliminary results for 2024, highlighting a strategic shift towards smokeless products which now contribute 17.5% of its revenue. Despite a 5.2% decline in total revenue due to the sale of its Russian and Belarusian businesses and currency impacts, the company saw a 1.3% increase in organic revenue driven by an 8.9% boost in New Categories. Investments in the U.S. market and Europe are showing positive returns, especially in the modern oral segment, despite challenges posed by illicit vapour products. The company expects regulatory headwinds but remains committed to its transformation strategy, aiming for sustainable growth and shareholder returns.
More about British American Tobacco
British American Tobacco (BAT) is a prominent player in the tobacco industry, focusing on the development and distribution of tobacco and nicotine products. The company is transitioning towards a smokeless future with an emphasis on New Categories such as vapour and modern oral products, aiming to become predominantly smokeless by 2035.
YTD Price Performance: 17.81%
Average Trading Volume: 5,196,019
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £74.59B
For detailed information about BATS stock, go to TipRanks’ Stock Analysis page.
