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BAT said it expects annual revenue from smoking alternatives to grow by a mid-teens percentage until 2030, driven by nicotine pouches, and targets at least 30% contribution margin by 2030.
BAT said it expects mid-teens revenue growth from vaping and nicotine pouches each year until 2030 and contribution margin of at least 30% by 2030, against 13.3% in June 2026, while it remains on track for 2026 revenue growth of 3%-5% and adjusted profit from operations growth of 4%-6%.