Vaping trend to help BAT profits grow
Shares in British American Tobacco (BAT) have jumped after the firm said sales of next generation products (NGP), such as e-cigarettes, would hit £500m this year.
The Dunhill and Lucky Strike cigarette maker climbed more than 2% on the London Stock Exchange as it unveiled a string of ambitious revenue targets for NGP.
The FTSE 100 firm said next generation sales were on track to double in 2018 to £1bn, before rising to £5bn in 2022. It added that NGP - which includes tobacco heating and vaping products - was likely to break even next year and chalk up a "substantial profit" in five years.