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Category: Business & Finance

  • BAT Chair Reaffirms Growth Targets at AGM

    BAT Chair Reaffirms Growth Targets at AGM

    British American Tobacco Chair Luc Jobin told shareholders at the company’s 2026 annual meeting that the group is making strong progress in its transformation toward a smokeless future, driven by growth in reduced-risk products and continued investment in innovation, science, and digital capabilities. He highlighted a more than 15% increase in smokeless product users in 2025 and reaffirmed confidence in BAT’s medium-term targets, including 3–5% revenue growth and 4–6% operating profit growth, despite regulatory challenges and market volatility.

    “We enter 2026 with accelerating momentum, powered by a strengthened innovation pipeline, deep strategic partnerships, and growing confidence in our future-fit capabilities,” Jobin said. “This progress underpins our confidence in sustainably delivering our mid-term algorithm of [growth].”

    Emphasizing harm reduction, Jobin called for evidence-based regulation to support alternatives to cigarettes and said the company remains well-positioned to deliver long-term value as it advances its strategy, despite a complex and volatile market.

    “We have activated comprehensive Business Continuity Plans to mitigate potential disruption, and we are closely monitoring the situation in the Middle East as it evolves,” he said. “As of today, the conflict is not currently having a significant impact on the Group’s business.”

    Read Jobin’s full comments here.

  • PMI Hosting Q1 Webcast April 22

    PMI Hosting Q1 Webcast April 22

    Philip Morris International Inc. announced it will host a live audio webcast on Wednesday, April 22, at 9 a.m. ET, to discuss its 2026 First-Quarter financial results, which will be issued approximately two hours earlier. The webcast can be accessed here.

    The webcast will be hosted by Emmanuel Babeau, Group Chief Financial Officer, and will include discussion of PMI’s financial results and a Q&A session with the investment community.

    The webcast may also be accessed on mobile devices by downloading PMI’s Investor Relations App at www.pmi.com/irapp. The webcast recording and the slides and script will be available here. The webcast will be in a listen-only mode, and a recording will be available for one year after the event.

  • Filtrona Offers White Paper on Regulation’s Impact on Filtration Sector

    Filtrona Offers White Paper on Regulation’s Impact on Filtration Sector

    Filtrona released a white paper, The Future of Filtration: Navigating the Post-COP11 Landscape, examining how environmental regulation and shifting consumer trends are reshaping the filtration sector. The report points to mounting policy pressure from COP11 discussions, UN plastics treaty talks, proposed revisions to the EU Tobacco Excise Directive, and expanding Extended Producer Responsibility programs, arguing the focus is moving from outright bans toward producer liability and material accountability.

    Filtrona highlights rising cost implications tied to plastics legislation and lifecycle emissions, noting that suppliers able to validate low-impact, compliant materials may gain a competitive edge. The paper also explores demand trends across reduced-risk products and value combustibles, continued interest in capsule and specialty filters, and the potential for renewed innovation as key capsule patents expire, concluding that scientific validation and environmental performance will be central to future competitiveness.

  • Imperial Flags Share Losses, Leans on H2 Growth for FY26

    Imperial Flags Share Losses, Leans on H2 Growth for FY26

    Imperial Brands warned of modest first-half profit growth and expected market share declines across its key markets, sending shares down more than 8%, as the company pivots toward profitability over volume. While reaffirming its FY26 guidance, including low-single-digit tobacco growth, double-digit next-generation product (NGP) revenue growth, and £2.2 billion in free cash flow, the group said performance would be weighted to the second half, supported by pricing in combustibles and continued momentum in heated tobacco, vaping, and oral nicotine.

    The shift comes as Imperial accelerates its five-year strategy to expand alternatives while stabilizing its core tobacco business, though weaker trends in the U.S. and Australia and heightened geopolitical risks linked to Middle East tensions could impact the outlook.

  • Nepal Debates Revival of Janakpur Cigarette Factory

    Nepal Debates Revival of Janakpur Cigarette Factory

    Debate is intensifying over a potential restart of the long-closed Janakpur Cigarette Factory in Nepal, which once employed thousands and contributed significantly to domestic tobacco production and tax revenue. The government-owned factory, which shut down due to management failures, outdated technology, and supply chain issues, remains a focal point of competing policy arguments. The factory produced an estimated 3 to 4 billion cigarettes annually at its peak.

    Proponents of revival say the facility could be modernized through improved technology and private-sector participation to restore jobs and industrial output, while public health advocates warn that resuming cigarette production would increase tobacco-related harm. The government is now weighing how to balance potential economic gains with health and regulatory concerns as pressure builds from industry stakeholders and local voices.

  • S. Korean Retailers Brace as Vapes Get Reclassified as Tobacco

    S. Korean Retailers Brace as Vapes Get Reclassified as Tobacco

    Vape shop owners across South Korea say upcoming changes to the Tobacco Business Act could force many of them out of business as synthetic nicotine liquids are reclassified as cigarettes starting April 24. Stores that operated for years outside the tobacco retail system must now qualify as designated tobacco sellers, a process retailers describe as nearly impossible due to strict location and licensing limits already filled by convenience stores and established outlets.

    Trade groups, including the Korea Electronic Tobacco Industry Association, say numerous specialty vape shops are preparing to close rather than attempt to register, as they are unlikely to obtain authorization. Retailers also warn that cigarette-level taxes on synthetic nicotine products will drive up prices and shrink demand, while pushing consumers toward unregulated nicotine-free or pseudo-nicotine liquids sold online. Many shop owners argue that the law corrects a past regulatory gap but does so in a way that sidelines small businesses that grew under the previous framework, leaving them with little path to remain in the legal market.

  • IKE Tech Engages FDA on AI-Powered ENDS Compliance Solutions

    IKE Tech Engages FDA on AI-Powered ENDS Compliance Solutions

    Today (April 9), IKE Tech LLC participated in a formal listening session with the FDA’s Center for Tobacco Products. The company, a joint venture between Ispire Technology Inc., Berify, and Chemular Inc., presented its point-of-use compliance technology, including its patented Human Identity Token (HIT) that prevents youth access to ENDS products, and highlighted the need for a regulatory framework recognizing software as a tobacco product.

    The session focused on enforcement challenges in the ENDS market, including underage access and the spread of illicit products. IKE Tech outlined its technology platform, which integrates biometric age-gating, blockchain-based product authentication, and an AI-powered governance backend. Executives emphasized that these point-of-use systems address compliance gaps that traditional point-of-sale measures cannot.

    IKE Tech also argued that software embedded in or governing a tobacco product should be regulated under the Tobacco Control Act, noting that current PMTA frameworks do not account for continuous updates and lifecycle management of software. The engagement follows FDA guidance identifying Device Access Restrictions as critical for public health determinations, and builds on IKE Tech’s first standalone PMTA for an interoperable, blockchain-based, point-of-use age-gating solution, which demonstrated 100% effectiveness in preventing underage device activation in human factors studies.

  • BAT Names Constantinescu as CFO

    BAT Names Constantinescu as CFO

    British American Tobacco announced the appointment of Dragos Constantinescu as Chief Financial Officer and Executive Director, effective 1 September 2026. Constantinescu, currently CEO of Asahi Europe & International, previously spent 16 years at BAT in senior finance and management roles across Europe. He succeeds Javed Iqbal, who will remain as Director of Digital & Information after serving as Interim CFO.

    BAT Chair Luc Jobin highlighted Constantinescu’s financial expertise and international leadership experience, while CEO Tadeu Marroco noted his knowledge of BAT will support the company’s ongoing transformation and growth strategy.

  • PMI to Double Zyn Investment in Ukraine

    PMI to Double Zyn Investment in Ukraine

    Philip Morris International said it plans to invest $10 million in 2026 to expand the nicotine pouch category in Ukraine and launch a new line of Zyn, following a $5 million investment in 2025. According to Interfax Ukraine, the company said funds will support portfolio expansion, infrastructure, and adult consumer awareness. The new “dry” pouches contain no water or glycerin, are smaller, less flavored, and range from 1.5 mg to 6 mg nicotine across nine SKUs. Initial supply will be imported from Sweden.

    The company estimates nicotine pouches in Ukraine could grow 20% annually. PMI cited Zyn’s U.S. marketing authorization from the U.S. Food and Drug Administration as supporting further investment. PMI reported that smoke-free products were available in 105 markets at the end of 2025, used by 43 million adult consumers, and accounted for 41.5% of net revenue.

  • KT&G Preparing Pilot Line for Oral Nicotine Product

    KT&G Preparing Pilot Line for Oral Nicotine Product

    KT&G is developing a smokeless nicotine product designed for oral absorption and is preparing a pilot production line for research and development in South Korea, according to local media outlet The Elec. The pilot equipment will be supplied by PNT, a manufacturer known for roll-to-roll battery and display production systems. KT&G said the project is in an early stage and that plans for domestic or international commercialization of nicotine pouches or related products have not been finalized.

    The move aligns with growing global competition in nicotine pouches, led by brands such as Zyn and VELO. KT&G last year participated with Altria in the acquisition of Scandinavian pouch companies ASF AB and ASF AS. In South Korea, however, nicotine pouches currently lack formal sales authorization under the Tobacco Business Act, and products are primarily obtained through overseas purchases or unofficial channels, meaning any domestic launch would be dependent on regulatory changes.