Dunhill cigarette maker British American Tobacco reported a jump in half-yearly profit on Wednesday, supported by higher cigarette prices and fast-growing demand for tobacco alternatives.
A woman poses with a cigarette in front of BAT logo in this illustration taken July 26, 2022. REUTERS/Dado Ruvic/Illustration/File Photoreported a jump in half-yearly profit on Wednesday, supported by higher cigarette prices and fast-growing demand for tobacco alternatives.
With traditional smoking on the decline, BAT has been investing in next generation products like heated tobacco and vapes to sustain growth. That, coupled with cigarette price hikes and a resumption of international travel helping duty-free trade, benefited the company. BAT's profit from operations on a reported basis was up 61.4% at 5.94 billion pounds for the six months ended June 30.
In the same period last year, the company had taken a 957 million pound impairment charge related to the transfer of its Russian business.Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu
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