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2w ago

BAT’s US Business Rebounds on Nicotine Pouch Momentum

Triple-digit growth in Velo pouches prompted the company to raise its full-year revenue forecast.

A woman poses with a cigarette in front of BAT (British American Tobacco) logo in this illustration taken July 26, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • British American Tobacco’s American arm returned to growth in mid-2025 driven by smokeless products.
  • Velo nicotine pouches achieved triple-digit revenue growth in the US market.
  • The company lifted its full-year revenue growth guidance to 1–2%, up from 1% previously.
  • Cigarettes and cigars are expected to resume growth in the first half of 2025.
  • Illicit vapour products in North America have dampened legal volumes, and BAT is evaluating a sale of its ITC stake to focus on non-combustible offerings.