|Bid||2,630.00 x 0|
|Ask||2,850.00 x 0|
|Day's range||2,648.00 - 2,692.00|
|52-week range||2,336.50 - 3,659.00|
|Beta (3Y monthly)||1.43|
|PE ratio (TTM)||9.92|
|Earnings date||20 Feb 2019 - 25 Feb 2019|
|Forward dividend & yield||2.03 (7.54%)|
|1y target est||3,825.26|
For decades, tobacco companies were the biggest sponsors of F1 and by the mid-nineties almost every team featured a cigarette brand on their cars. F1 drivers — from James Hunt to Michael Schumacher — have worn the logo of Marlboro cigarettes across their overalls*.
The FDA has set a May 2020 deadline for e-cigarette makers to submit a formal application to keep their products on the market amid its efforts to curb the use of e-cigarette among teens. The Trump administration also outlined plans in September to remove all flavoured e-cigarettes from store shelves, pointing the finger at sweet flavours that had drawn millions of children into nicotine addiction.
U.S. health officials on Thursday said there were now 530 confirmed and probable cases and seven deaths from severe lung-related illnesses tied to vaping, up from just 380 cases reported a week earlier. "To the best of our knowledge, no product developed or manufactured by British American Tobacco (BAT) has been involved in these cases," said David O'Reilly, director of Scientific Research at the tobacco company. No e-cigarette or vaping product, substance, additive or brand has been consistently identified in the illness cases, nor has any one product or substance been conclusively linked to lung injury in patients, the Centers for Disease Control and Prevention (CDC) said on Thursday.
Company aims to increase revenues from ‘potentially reduced-risk products’ to £5bn. British American Tobacco (BAT) has announced plans to cut 2,300 jobs by 2020 in readiness for a shift towards non-tobacco products, a day after Donald Trump said he was considering a ban on flavoured e-cigarettes. The vast majority of BAT’s £24.5bn revenue in 2018 came from traditional cigarettes – its brands include Rothmans, Dunhill and Lucky Strike – but the company said it could save money to invest in alternative products such as vaping and heated tobacco by stripping out layers of management around the world. A spokesperson declined to say how many of the job cuts would fall in the UK, where 2,500 of its 55,000 staff are based, including at its London headquarters. The chief executive, Jack Bowles, who took over this year after the eight-year tenure of Nicandro Durante, said he wanted to make BAT “a stronger, simpler and faster organisation” that was ready for a future in which people moved away from cigarettes. He said BAT aimed to derive £5bn of its revenue from what it called “new category” or “potentially reduced-risk products” by the 2023/24 financial year. That would mean more than doubling the £1.8bn it made last year from vaping, tobacco-heated products and oral tobacco, which includes pouches such as Snus, popular in Scandinavia. On Wednesday Trump unveiled proposals to ban certain flavoured e-cigarettes in the US to limit their use by teens, amid concern about a mysterious lung illness has killed at least five people and hospitalised others. The US is a large and growing market for BAT’s vaping products, led by its flagship brand Vype. Of the £1.8bn it already makes from products other than cigarettes, £318m comes from vaping. A spokesperson for BAT declined to comment on whether Trump’s plans could punch a hole in its £5bn revenue target for “potentially reduced-risk products”. The company said: “We welcome the Trump administration and the FDA shining a spotlight on the important issue of youth access to vapour products. We have always been clear that youth should not use vapour products and have had stringent measures in place to address this for some time. “We share President Trump’s concern that some flavours, such as those resembling ‘kid-friendly’ food products, may play a role in increasing youth appeal and that marketing activities should not be directed to youth. “It is important to note that we do not market such vapour flavours and in fact we have supported measures to remove vapour products intended to mimic children’s food products or otherwise designed to target youth, and have procedures in place to ensure our products are only marketed to adult tobacco consumers.” BAT said it would continue to work with the FDA but made no mention of concern among US health professionals about potential links between vaping and lung disease.
Shares of the second-largest tobacco company by sales were up 1.6 %, the biggest boost to the broader FTSE index on Thursday, after the maker of Lucky Strike and Dunhill cigarettes said it will cut 2,300 roles as it eliminates duplication and consolidates business units. The move by BAT, which employed more than 56,000 people at the end of last year, 629 of them senior managers, comes a day after President Donald Trump said that the U.S. would remove all flavored e-cigarettes from shelves, as officials warned millions of children had been drawn into nicotine addiction.
A sixth person died from lung disease related to vaping but the U.S. Centers for Disease Control and Prevention is still trying to determine what is making more than 450 people nationwide ill.
Philip Morris (PM) witnesses receding cigarette sales volumes. Nevertheless, advancement in low-risk tobacco alternatives is encouraging.
British American Tobacco's (BAT) proposed takeover of e-cigarette maker Twisp won approval from South Africa's Competition Tribunal on Tuesday after the UK-based group agreed to a series of conditions. The local unit of BAT, the world's second-largest tobacco company by sales, announced the deal in 2017 as part of its efforts to increase its offering of so-called next-generation products or alternatives to smoking cigarettes. BAT, like rivals, is striving for a bigger chunk of the global market for smoking alternatives as volumes of traditional cigarettes continue to slide.
London's FTSE 100 ended flat on Thursday despite a profit miss from Shell and dampened hopes of big U.S. interest rate cuts, while the mid-cap FTSE 250 index slipped after Brexit worries led the Bank of England to cut its growth forecasts. Losses were contained by BAT and as London Stock Exchange surged 6.5% to an all-time high after a deal to buy financial information firm Refinitiv, in which Reuters News parent Thomson Reuters holds a 45% stake.