British American Tobacco (BAT) and its peers breathed a sigh of relief when Rishi Sunak decided to call a snap General Election a little more than a week ago. That is because the Government's proposed law to clamp down on smoking by banning those born after 2009 from buying cigarettes failed to make it on to the statute books on time. Investors in the tobacco giant will have to wait to see if BAT sheds any light on this with its update on Tuesday. BAT's American brands have suffered from falling smoking rates, lower sales amid a wider cost-of-living squeeze, and uncertainty around a potential menthol cigarette ban in the US. BAT, which is valued at £53billion, wants to make half of its revenues from non-traditional cigarettes by 2035.

Source: Daily Mail June 01, 2024 08:52 UTC