Stories and features27 July 2023
HYR 2023: resilient performance, renewed energy, full-year guidance on track
BAT's 2023 Half-Year Results demonstrate a resilient performance, with the company on track to meet its full-year guidance.
That was the view of our Chief Growth Officer Kingsley Wheaton as he spoke to the media following our results announcement yesterday.
Talking to Ian King on Sky News in the UK (see link below), Kingsley went on to highlight the encouraging progress of our New Categories business, explaining how nearly one-sixth of what BAT now sells in terms of revenue is in non-combustible products.
Kingsley also called on governments around the world to work together to boost progress on Tobacco Harm Reduction, urging regulators to consider further regulation to crack down on the illicit sales of vapour products.
Kingsley said: “We would actually favour more stringent regulation. We don’t think it is the sales of these products that is the problem, because they offer people a chance to switch that would otherwise have continued to smoke.
“We think it’s the irresponsible marketing of these products. Measures like restriction of certain flavours, packaging and labelling, youth access prevention – even as far as retail licensing, are all things we’d be very keen to discuss with government regulators and policy holders.”