0802 GMT - British American Tobacco's financial delivery remains under pressure as the company reported a volume decline in cigarette sales in the U.S., industry analyst Tobacco Insider says. The country is a key market for the FTSE 100 tobacco group as it represents 53% of the total operating profit, which means that the 10.1% volume decline prompted a 3.5% drop in operating profit, says Cem Ozguven, founder and managing director at Tobacco Insider. However, the company made progress outside the U.S., with operating profit up 7.5%, he adds. With stock up 50% since the lowest levels from April 2024, the stabilization in the U.S. market and more progress in heated tobacco and vapes are key for further price improvement, Ozguven adds. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 03:02 ET (08:02 GMT)
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