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HYR22: our results in the news

HYR22: our results in the news

27 July 2022

BAT’s Half-Year Results were the topic of conversation this morning as our Chief Marketing Officer Kingsley Wheaton appeared on Sky News.

Kingsley appeared on the Ian King Live show to discuss BAT’s HYR22 results which showed how we grew revenue by 3.7%* in the first six months of the year, with revenue from New Categories up 45%* over the same period.

The results also revealed how we now have 20.4m adult consumers of our non-combustible products, which now account for 14.6% of Group revenue.

In the interview, which you can see above, Kingsley discussed the successful H1 performance of our New Categories, highlighting how Vuse (vapour) and glo (tobacco heating products) had turned into billion-dollar businesses in a short period.

Kingsley told Sky News Business Presenter, Ian King: “We’re really pleased with the performance of our New Category products. A 45% growth in revenue* is on top of 51% growth in revenue* last year.

“It’s all part of our A Better Tomorrow purpose… these New Category products have contributed meaningfully to profits and earnings growth for the first time.”

Among a range of topics, Kingsley also discussed the success of our vapour business in the U.S., thanks to our world number one global vapour brand** Vuse, which is number one in value share*** in the U.S. (37.4%). He added: We’re leaders in 32 U.S. states and being number one is a position we want to solidify.”

*Vs H1 21, at constant rates of exchange
**Based on Vype/Vuse estimated value share from RRP in measured retail for vapour (i.e.total vapour category value in retail sales) in the USA, Canada, France, UK, Germany as of December 2021. These 5 markets cover an estimated 77% of global vapour closed system NTO, calculated in July 2021.
***Vuse value share of total vapour –monthly average of quarter share to May 2022. Source: US Marlin.

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