TOBACCO giant
The company said its Vuse and Glo reduced-risk product categories had both maintained or expanded market share in key markets during the period.
Vuse, the world's number-one global vaping brand, maintained its share of global vaping markets at 41.1 per cent. The group said it expected Vuse's market share and profitability to expand in the second half of the financial year as it rolled out new products However,
At the group's Glo heated tobacco division, market share held up well during the period with an "encouraging early consumer response to our new innovations
On the other side of the portfolio, combustibles,
In the US, a key market for the tobacco giant, volumes across the industry fell nine per cent in the first half of 2024, and the group said it would be impacted by this as well as "continued investment in our commercial actions and related phasing of wholesaler inventory movements." These headwinds would "unwind" in the second half of the year, it added.
For 2024 as a whole,
Shares closed down 0.53 per cent.
(c) 2024 City A.M., source