Personal Finance

British American Tobacco Sees GBP25 Billion Impairment on U.S. Brands Pressure

Updated Dec. 6, 2023 2:58 am ET

British American Tobacco said it expects a one-off impairment of around 25 billion pounds ($31.49 billion) this year due to market pressure on some of its combustibles brands in the U.S. as it tries to increase revenue from nontraditional tobacco products.

The FTSE 100 cigarette maker—which houses the Kent, Dunhill and Lucky Strike brands among its portfolio—said macroeconomic pressures on its combustibles performance in the U.S. and investments in its noncombustibles business would lead to an accounting noncash adjusting impairment charge of around GBP25 billion.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button