British American Tobacco (BAT) reported a drop in revenue in the first half of the year, offset by the continued growth of new categories. New-category revenue is expected to be weighted to the second half of 2024, driven by the phasing of new launches.
In particular, the company increased its organic new-category contribution by £165m (at constant rates) in the first half of 2024, with significant growth of modern oral – a category with a fast-developing global footprint. The London-based company expects to deliver further improvements in revenue and profitability across its new categories for the full year.
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.
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