The Evening Standard

British American Tobacco boosted by strong vaping and premium cigarette sales

July 31, 2020

British American Tobacco says that soaring premium cigarette sales and strong vaping demand in the US helped it to beat half-year profit targets.

Shares in the tobacco giant lifted higher on Friday after the Dunhill and Lucky Strike manufacturer reported an 18.8% jump in pre-tax profits to $6 billion for the six months to the end of June.

It said revenue increased by 0.8% to $16 billion for the period, as sales of more expensive cigarettes offset a slump in volumes.

The company added that Covid-19 pushed adjusted revenues down by 4% for the half-year.

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