Secretive billionaire Kenneth Dart builds £5bn stakes in Big Tobacco April 29, 2021 A reclusive billionaire known for so-called vulture fund investments has built stakes worth nearly £5bn in two of the world’s largest tobacco companies. Cayman Islands-based Kenneth Dart, who is heir to a US foam cups empire, has built a seven per cent stake in British American Tobacco and snapped up three per cent of rival [...]
Tobacco stocks in the red on UK’s £40m cigarette butt cleaning plan March 30, 2021 Tobacco stocks slipped into the red today after the government unveiled plans to slap manufacturers with the £40m annual cost of cleaning up cigarette butts. In a statement this morning junior environment minister Rebecca Pow said the UK was looking at how tobacco firms could be “held fully accountable for the unsightly scourge of litter [...]
SFO closes investigation into British American Tobacco January 15, 2021 The Serious Fraud Office (SFO) has closed its investigation into British American Tobacco (BAT), its subsidiaries and associated persons. The SFO said the evidence in the case did not meet the evidential test for prosecution. According to the BBC, BAT, which owns brands Lucky Strike and Pall Mall, was under investigation over allegations it paid [...]
British American Tobacco lifts guidance after pandemic burn is less than feared December 9, 2020 British American Tobacco has raised its full-year revenue guidance after the hit to cigarette demand from the pandemic was less than feared. The world’s second-biggest cigarette maker, which owns brands such as Dunhill and Lucky Strike, said its revenue hit from the Covid-19 crisis will be 2.5 per cent, down from an earlier estimate of [...]
British American Tobacco appoints new chairman October 15, 2020 British American Tobacco has announced that Luc Jobin will succeed Richard Burrows as the company’s chairman. Jobin, a former chief executive Canadian National Railway Company and Imperial Tobacco Canada, will take over from Burrows at BAT’s annual general meeting in April next year. The Canadian first joined BAT’s board in 2017 as a non-executive director. [...]
BAT warns of coronavirus pandemic revenue blow June 9, 2020 British American Tobacco (BAT) reduced its full-year revenue forecast today as a result of coronavirus, predicting a three per cent hit from the pandemic. The cigarette giant said it now expects revenue growth of between one and three per cent in 2020, compared to growth in the low end of a previous prediction of three [...]
Watchdog blasts British American Tobacco’s Lily Allen Instagram vaping posts December 18, 2019 British American Tobacco (BAT) is one of four vaping companies to have their Instagram posts banned by the Advertising Standards Authority (ASA). The posts saw celebrities like Lily Allen promoting e-cigarettes, something that is banned on social media. Read more: Watchdog puts BAT in sights as it weighs clampdown on e-cigs Posts including BAT nicotine [...]
Watchdog puts BAT in its sights as it clamps down on Instagram vaping ads December 18, 2019 The advertising watchdog has banned British American Tobacco (BAT) from promoting e-cigarettes on public Instagram pages, including through the use of influencer marketing. In a landmark ruling, the Advertising Standards Authority (ASA) stated that the tobacco giant had breached regulations on promoting unlicensed, nicotine-containing e-cigarettes. Read more: Peloton’s ‘sexist’ advert was so bad it sent [...]
British American Tobacco to axe 2,300 jobs as it focuses on vaping September 12, 2019 British American Tobacco (Bat) is slashing 2,300 jobs across the company as it seeks to simplify its business and re-invest in vaping under its new CEO. Over 20 per cent of senior roles will disappear in the cull, said chief executive Jack Bowles, who added that the swathe of redundancies was “vital” to boost sales [...]
E-cigarette demand boosts sales for British American Tobacco August 1, 2019 Demand for e-cigarettes boosted first half sales for British American Tobacco (BAT), mitigating the decline in demand for traditional smoking products. The figures Revenue in the first half rose 4.6 per cent to £12.17bn. Read more: Dividend star British American Tobacco gets cheaper The Lucky Strike and Pall Mall owner said profit from operations slumped [...]