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Tag: British American Tobacco

  • Altria Outperforms Peers as Cigarette Declines Moderate: Motley Fool

    Altria Outperforms Peers as Cigarette Declines Moderate: Motley Fool

    A recent Motley Fool analysis highlights continued declines in U.S. cigarette volumes, though at a slower pace than expected, with industry data showing a 4.3% to 5.5% year-over-year drop and a 5.1% decline so far in 2026. The figures came in better than earlier projections, suggesting the rate of contraction in the traditional cigarette market may be stabilizing somewhat, even as long-term declines persist.

    The report notes that Altria is outperforming key competitors in this environment, with its cigarette volumes down 4.7% compared to sharper declines of 9.3% for British American Tobacco and 9% for Imperial Brands. At the same time, Motley Fool said next-generation products show mixed performance, with nicotine pouches growing 22% while e-cigarette volumes fell 17%, underscoring uneven momentum across reduced-risk categories as companies continue to navigate the transition away from combustible products.

  • BAT NZ Revenue Down 29% Amid Rising Illicit Trade

    BAT NZ Revenue Down 29% Amid Rising Illicit Trade

    British American Tobacco New Zealand reported a sharp decline in financial performance in 2025, with revenue falling nearly 29% year over year to NZ$180.7 million ($106.6 million), which the company attributed in part to the growth of the illicit tobacco market. According to The Post, industry estimates suggest illicit products accounted for 27.2% of consumption in 2024, equating to roughly NZ$600 million ($354 million) in lost excise revenue, as high cigarette taxes continue to push consumers toward the black market.

    The downturn was reflected across key business indicators, including a significant drop in inventory levels and reduced tax payments, while dividend payouts to the parent company remained stable. BAT has called for stronger enforcement measures, including tougher penalties and retailer licensing, as illicit trade expands alongside broader market shifts such as declining smoking rates and rising vape use.

  • Tobacco-Free Kids Launches Campaign to End F1’s Tobacco Ties

    Tobacco-Free Kids Launches Campaign to End F1’s Tobacco Ties

    Today (March 28), the Campaign for Tobacco-Free Kids launched a new advertising initiative, “End the Formula,” ahead of the May 3 Miami Grand Prix, calling on Formula 1 to eliminate all tobacco-related sponsorships. The campaign targets partnerships between major F1 teams and companies, including Philip Morris International and British American Tobacco, which promote nicotine pouch and e-cigarette brands such as Zyn, Velo, and Vuse through branding on cars, driver apparel, and digital media. The campaign ties into similar efforts that began in March, which included ads, coordinated outreach with 162 organizations across 57 countries, and more than 25,000 petition messages urging F1 and affiliated partners to end these sponsorship arrangements.

  • BAT Calls Pakistan Largest Illicit Cigarette Market

    BAT Calls Pakistan Largest Illicit Cigarette Market

    British American Tobacco (BAT) says Pakistan has become the world’s largest illicit cigarette market, with illegal products accounting for roughly 55–58% of consumption. Simon Trussler, BAT’s Group Head of International Trade and Fiscal Affairs, said steep tax increases in recent years have widened the price gap between legal and illicit cigarettes—now around half the price—driving consumers toward untaxed products while overall consumption remains broadly unchanged at about 80 billion sticks annually.

    BAT said higher taxes have failed to deliver expected revenue gains and instead have fueled domestic illicit production, which accounts for the majority of illegal supply. The company called for a more stable excise policy alongside sustained enforcement across the supply chain, noting recent seizures and factory closures as signs of increased government action.

  • 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.

  • BAT Malaysia to Trim Workforce

    BAT Malaysia to Trim Workforce

    British American Tobacco Malaysia Bhd said it may reduce its workforce as part of an operational “optimization” linked to the rollout of a new route-to-market distribution model from July 1. In a filing today (March 31), the company said affected employees would receive statutory and contractual entitlements, including retrenchment benefits where applicable. BAT Malaysia reported 283 employees in its 2024 annual report, but the filing did not specify how many roles could be impacted. The company said the move is intended to align staffing with future operating requirements and follows a shift begun in 2022 toward allowing retailers to place orders through online channels, sales representatives, or call centers, a model it previously said could reduce costs by 20% to 25%.

    The announcement comes amid tighter regulation of tobacco products in Malaysia, including a reported plan for a nationwide vape ban starting with disposable products, a 42.8% excise duty increase on tobacco and heated tobacco products under Budget 2026, new pictorial health warnings, and a ban on retail cigarette displays. The Control of Smoking Products for Public Health Act, which took effect in 2024, prohibits the sale of tobacco and vape products to individuals under 18. Shares of BAT Malaysia last traded at RM5.65 ($1.41) at today’s noon break, valuing the company at RM1.61 billion ($403 million).

  • Charlotte’s Web Announces Financials, Deal with BAT

    Charlotte’s Web Announces Financials, Deal with BAT

    Charlotte’s Web Holdings, Inc. announced a transaction with BT DE Investments yesterday (March 30), a subsidiary of British American Tobacco, to convert a $54.2 million convertible debenture plus accrued interest into equity at $0.68 per share and complete a concurrent $10 million private placement, resulting in the issuance of about 110 million shares and a total equity commitment of roughly $75 million. The deal would eliminate about $65 million in debt, stop future interest accrual, and leave the company with no long-term debt, subject to shareholder and TSX approval at a meeting planned for May 28, 2026.

    Today (March 31), the company released its 2025 financials and said it advanced product innovation, in-house manufacturing, and healthcare channel development while holding annual revenue broadly steady at $49.9 million. Fourth-quarter revenue rose 4.7% year over year to $13.3 million, supported by new Brightside low-dose hemp THC gummies, sleep products, functional mushrooms, and minor cannabinoids, though gross margin was affected by a one-time inventory charge tied to legacy gummies. Full-year gross margin improved to 43.5% and SG&A fell 21% to $42 million following cost reductions, narrowing the operating loss to $20.3 million from $32 million in 2024. The company ended the year with $8 million in cash and reported progress toward internalizing gummy production, achieving a clean NSF 455-2 cGMP audit, and establishing a Scientific Advisory Board to support its expanding medical practitioner channel.

    Charlotte’s Web said the strengthened balance sheet will support its planned participation in a Centers for Medicare & Medicaid Innovation pilot enabling access to hemp-derived CBD products for Medicare beneficiaries and ongoing clinical development by DeFloria, its joint venture with BAT and Ajna BioSciences, which is preparing to begin Phase 2 trials of a botanical CBD-based treatment candidate in mid-2026.

  • Organigram Shares Results of AGM, Gains Approval for Sanity Acquisition

    Organigram Shares Results of AGM, Gains Approval for Sanity Acquisition

    Shareholders of Organigram Global Inc. overwhelmingly approved the company’s proposed acquisition of Germany-based Sanity Group GmbH and a related private placement with British American Tobacco subsidiary BT DE Investments at a meeting held on March 30. The transaction resolution passed with 93% of votes cast, excluding shares associated with BAT, and authorizes Organigram to issue up to 96.3 million common shares to Sanity Group shareholders and BAT in connection with the deal.

    The acquisition, expected to close in April subject to customary conditions, is positioned to expand Organigram’s presence from its leading position in Canada’s adult-use market into the German medical cannabis sector and establish a broader European operational footprint. Shareholders also approved the election of 10 directors, the reappointment of PricewaterhouseCoopers LLP as auditor, and the approval of unallocated awards under the company’s long-term equity incentive plan.

  • BAT Announces May 2026 Dividend  

    BAT Announces May 2026 Dividend  

    British American Tobacco p.l.c. announced its interim dividend for the year ended December 31, 2025, payable in four quarterly instalments. The first payment, the May Dividend, of 61.26p ($0.81) per ordinary share, will be paid on May 7 to shareholders on the U.K. main register and the South Africa branch register as of March 27. For South African branch shareholders, the dividend is payable in rand at a rate of £1 = R22.3938, resulting in a gross dividend of 1,371.84 SA cents per share, with 20% dividends tax withheld, leaving a net payment of 1,097.48 SA cents per share. The dividend is considered a foreign dividend for South African tax purposes, sourced from the U.K.

  • BAT Publishes AGM 2026 Notice

    BAT Publishes AGM 2026 Notice

    Today (March 10), British American Tobacco published its Notice of Annual General Meeting 2026 and related documents on its website ahead of the AGM scheduled for April 15. Shareholders can access the 2025 Combined Annual and Sustainability Report, performance summaries, AGM Notice, and proxy forms online.

    For South African shareholders, the last day to trade is April 7, with the Record Date set for April 10. All documents are also available via the UK National Storage Mechanism in compliance with listing rules.