On July 2, British American Tobacco rose 3.01% in regular trading, trading at $62.39/share, with turnover of approximately $56.87 million.
The rebound follows a period of pressure after the company detailed its Fit2Win transformation program on June 29, which initially weighed on shares by approximately 2%. The program targets 600 million British pounds in annual cost savings by 2028, impacting roughly 9,000 roles globally through approximately 5,500 job cuts and 3,500 outsourced positions to Accenture. The restructuring includes factory network consolidation, such as the closure of its Heidelberg facility in South Africa.
As the market digested the cost-reduction benefits, sentiment was further supported by the company's upgraded revenue growth guidance for its new tobacco categories — including vaping, heated tobacco, and modern oral products — to approximately 15%, up from a prior low-double-digit forecast.
Within the Tobacco sector, the broader group traded higher. Among peers, Philip Morris rose 1.95%, Altria gained 1.36%, RLX Technology added 0.9%, Universal rose 0.7%, while Turning Point edged down 0.11%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments