Taking Stock 

BATS off the menu in emerging markets

Mark Robinson

BATS off the menu in emerging markets

Would someone who enjoys having a smoke still be inclined to light-up during lockdown? That certainly seems to be the case in the US and other mature markets, according to a pre-close trading update from British American Tobacco (BATS). The world’s second-biggest tobacco group has seen “good pricing” and “little evidence of accelerated downtrading” in developed economies, which account for three-quarters of group sales. Demand may have held up through the pandemic, but sales of conventional tobacco products remain in structural decline in these economies.

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