Camel maker BAT writes down US cigarette brands, tobacco stocks fall

LONDON (Reuters) -British American Tobacco said it would take a hit of around $31.5 billion as it writes down the value of some U.S. cigarette brands, acknowledging on Wednesday that its traditional market has no long term future. BAT's move comes as ever stricter regulation and growing awareness of health risks squeeze tobacco companies' traditional business, driving declines in cigarette volumes in some markets. The maker of Lucky Strike and Dunhill cigarettes also pointed to economic challenges in the U.S., where some inflation-weary consumers are downgrading to cheaper brands, and the rise of illicit disposable vapes putting pressure on its U.S. cigarette division.

Explainer: how big tobacco turns profits

BAT Writing Off £25 Billion on US Cigarettes, Shares Fall - Bloomberg

BAT writes down $31.5 bn from value of US cigarette brands

The dark side of marketing seemingly “Light” cigarettes

British American Tobacco (BTI) Stock Price, News & Analysis

British American Tobacco writes down U.S. cigarette brands

British American Tobacco $BTI: Analysis, Valuation, and Pricing, 2022

BAT Writing Off £25 Billion on US Cigarettes, Shares Fall - Bloomberg

British American Tobacco $BTI: Analysis, Valuation, and Pricing, 2022

British American Tobacco $BTI: Analysis, Valuation, and Pricing, 2022

Tobacco giant sees sunset for US cigarette business

Camel maker BAT writes down US cigarette brands, tobacco stocks fall

BAT Bids $47 Billion for Full Ownership of Reynolds American

British American Tobacco writes down US cigarette brands, stocks fall