Latest news with #Marroco
Powys County Times
41 minutes ago
- Business
- Powys County Times
Demand for oral nicotine pouches growing fast, British American Tobacco says
Rising global demand for oral nicotine pouches are helping boost sales for cigarette maker British American Tobacco (BAT), which has nudged up its full-year forecast. The Velo brand is growing the fastest within its so-called 'new category', which includes non-tobacco products like vapes, the business said. The pouches come in a variety of flavours and strengths and are designed to be placed between the gum and lip so nicotine can be absorbed through the mouth. Tadeu Marroco, BAT's chief executive, said he was 'excited' by the launch of loyalty scheme Velo Plus in the US. 'Globally, Velo continues to gain volume share in this fast-growing category, driven by the US and our continued leadership position in AME (Americas & Europe),' he said, highlighting a strong performance in the UK, Scandinavia and Poland. BAT said it was expecting full-year revenues to grow between 1% and 2% following a stronger-than-expected half-year performance. It had previously forecast growth of 1%. The company continues to make the bulk of its sales from traditional cigarettes, which include the Pall Mall and Camel brands. It said the segment remained 'under pressure' with the volume of sales about 9% lower across the industry over the year to date, but that it was gaining market share for brands including Lucky Strike. Mr Marroco said BAT's vape sales were being affected by 'illicit' products in the US and Canada, which were driving down sales of legal devices. BAT has previously warned that customers turning to illegal disposable vapes was hurting sales of its own vape product, Vuse, and urged a government crackdown on the market.
Glasgow Times
an hour ago
- Business
- Glasgow Times
Demand for oral nicotine pouches growing fast, British American Tobacco says
The Velo brand is growing the fastest within its so-called 'new category', which includes non-tobacco products like vapes, the business said. The pouches come in a variety of flavours and strengths and are designed to be placed between the gum and lip so nicotine can be absorbed through the mouth. BAT said it was expecting full-year revenues to grow between 1% and 2% (British American Tobacco/PA) Tadeu Marroco, BAT's chief executive, said he was 'excited' by the launch of loyalty scheme Velo Plus in the US. 'Globally, Velo continues to gain volume share in this fast-growing category, driven by the US and our continued leadership position in AME (Americas & Europe),' he said, highlighting a strong performance in the UK, Scandinavia and Poland. BAT said it was expecting full-year revenues to grow between 1% and 2% following a stronger-than-expected half-year performance. It had previously forecast growth of 1%. The company continues to make the bulk of its sales from traditional cigarettes, which include the Pall Mall and Camel brands. It said the segment remained 'under pressure' with the volume of sales about 9% lower across the industry over the year to date, but that it was gaining market share for brands including Lucky Strike. Mr Marroco said BAT's vape sales were being affected by 'illicit' products in the US and Canada, which were driving down sales of legal devices. BAT has previously warned that customers turning to illegal disposable vapes was hurting sales of its own vape product, Vuse, and urged a government crackdown on the market.
Yahoo
2 hours ago
- Business
- Yahoo
Demand for oral nicotine pouches growing fast, British American Tobacco says
Rising global demand for oral nicotine pouches are helping boost sales for cigarette maker British American Tobacco (BAT), which has nudged up its full-year forecast. The Velo brand is growing the fastest within its so-called 'new category', which includes non-tobacco products like vapes, the business said. The pouches come in a variety of flavours and strengths and are designed to be placed between the gum and lip so nicotine can be absorbed through the mouth. Tadeu Marroco, BAT's chief executive, said he was 'excited' by the launch of loyalty scheme Velo Plus in the US. 'Globally, Velo continues to gain volume share in this fast-growing category, driven by the US and our continued leadership position in AME (Americas & Europe),' he said, highlighting a strong performance in the UK, Scandinavia and Poland. BAT said it was expecting full-year revenues to grow between 1% and 2% following a stronger-than-expected half-year performance. It had previously forecast growth of 1%. The company continues to make the bulk of its sales from traditional cigarettes, which include the Pall Mall and Camel brands. It said the segment remained 'under pressure' with the volume of sales about 9% lower across the industry over the year to date, but that it was gaining market share for brands including Lucky Strike. Mr Marroco said BAT's vape sales were being affected by 'illicit' products in the US and Canada, which were driving down sales of legal devices. BAT has previously warned that customers turning to illegal disposable vapes was hurting sales of its own vape product, Vuse, and urged a government crackdown on the market.
Rhyl Journal
2 hours ago
- Business
- Rhyl Journal
Demand for oral nicotine pouches growing fast, British American Tobacco says
The Velo brand is growing the fastest within its so-called 'new category', which includes non-tobacco products like vapes, the business said. The pouches come in a variety of flavours and strengths and are designed to be placed between the gum and lip so nicotine can be absorbed through the mouth. Tadeu Marroco, BAT's chief executive, said he was 'excited' by the launch of loyalty scheme Velo Plus in the US. 'Globally, Velo continues to gain volume share in this fast-growing category, driven by the US and our continued leadership position in AME (Americas & Europe),' he said, highlighting a strong performance in the UK, Scandinavia and Poland. BAT said it was expecting full-year revenues to grow between 1% and 2% following a stronger-than-expected half-year performance. It had previously forecast growth of 1%. The company continues to make the bulk of its sales from traditional cigarettes, which include the Pall Mall and Camel brands. It said the segment remained 'under pressure' with the volume of sales about 9% lower across the industry over the year to date, but that it was gaining market share for brands including Lucky Strike. Mr Marroco said BAT's vape sales were being affected by 'illicit' products in the US and Canada, which were driving down sales of legal devices. BAT has previously warned that customers turning to illegal disposable vapes was hurting sales of its own vape product, Vuse, and urged a government crackdown on the market.
IOL News
2 hours ago
- Business
- IOL News
British American Tobacco forecasts modest revenue growth for 2025
The headquarters quarters of British American Tobacco at Temple Place in central London. The group said first half revenue was slightly better than it had anticipated and operating profit margins had improved. Image: AFP British American Tobacco (BAT) is likely to generate 1% to 2% revenue growth in its 2025 financial year, as first-half revenue to June 30 was likely to be slightly ahead of previous guidance, CEO Tadeu Marroco said on Tuesday. He said in a trading statement that the full-year revenue growth would support 1.5% to 2.5% growth in adjusted profit from operations. The cigarette and non-combustible tobacco product group said their US operations were expected to return to revenue and profit growth in the first half, driven by strengthening combustibles delivery and 'an excellent Velo Plus performance.' There has also been strong global growth from Velo in Modern Oral, the fastest-growing New Category segment. The performance in Asia and the Middle East remained strong, led by Brazil, Turkiye, and Romania, but performance in the Asia-Pacific, Middle East, and Africa was impacted by excise and regulatory challenges in Bangladesh and Australia, as previously guided. In the first half, New Categories revenue growth was expected to be in the low single digits, with the impact of illicit vapour products in the US and Canada partly offsetting 'excellent Velo performance.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ New Category product growth was being driven by the deployment of innovations in key markets, and there was a further improvement in the New Category contribution margin, driven by the group's 'Quality Growth' focus. Cash generation was strong with balanced capital allocation. Leverage was being reduced, and the group remained committed to progressive dividends and sustainable share buy-backs. '2025 is a deployment year and, as previously highlighted, we expect our performance to be weighted in the second half, mainly driven by the roll-out of New Category innovations in key markets from the middle of the year,' said Marroco. He said that while the combustibles industry volume remained under pressure, total industry volume and value share had stabilised. 'Excluding the deep discount segment where we are not present, we are gaining share, driven by Natural American Spirit and Lucky Strike,' he said. He said the vapour category remained impacted by the proliferation of illicit vapour products in the US and Canada, with US legal industry volume down mid-teens year-to-date.
