British American Tobacco's Shift to Smokeless: Progress Made, but Cigarette Declines Persist

Like all cigarette makers, British American Tobacco (NYSE: BTI) has one really big problem: Its core product is cigarettes. It is working to reduce its reliance on this declining product category, but there's no easy fix. Here's what the company has done so far, and why it still has miles to go before cigarettes aren't the most important product it sells.When British American Tobacco reported first-half 2024 earnings, CEO Tadeu Marroco led off with this comment: "We are building a smokeless world. We added 1.4 million consumers (to 26.4 million) of our smokeless brands, now accounting for 17.9% of Group revenue, an increase of 1.4 ppts vs FY23."Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool