OUR PURPOSE

Our purpose is to create something better for the world’s smokers with a portfolio of high quality next generation and tobacco products. In doing so we are transforming our business and strengthening our sustainability and value creation.

DELIVERING AGAINST OUR STRATEGY

Our strategy is aligned to our purpose of creating something better for the world’s smokers and focuses on driving results in three key areas.

 

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STEPPING UP IN NEXT GENERATION PRODUCTS

Our NGP portfolio is built around our pioneering vapour brand, blu.

 

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FURTHER SHARE GROWTH IN PRIORITY MARKETS

We achieved another excellent performance with our Growth and Specialist Brands.

 

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ROBUST FINANCIAL DELIVERY

A strong cost and capital discipline is at the heart of all our activities.

 

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REFOCUSING OUR SUSTAINABILITY STRATEGY

Our sustainability strategy is integral to the long-term success of our business and underpins our drive to create shared value for our stakeholders.

 

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GROWTH BRAND VOLUMES

+2.1%
162.9bn

TOBACCO & NGP NET REVENUE*

+2.1%
£7.7bn

ADJUSTED EARNINGS PER SHARE*

+5%
272.2p

REPORTED EARNINGS PER SHARE

-2.7%
143.6p

DIVIDEND PER SHARE

+10%
187.8p

CHAIRMAN'S STATEMENT

“The progress we made this year has put the Group in a strong position to deliver growing returns for shareholders.”

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CHIEF EXECUTIVE'S REVIEW

“We have the strategy, assets and capabilities for accelerating growth in NGP and generating further significant returns from our tobacco business.”

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FINANCIAL REVIEW

“This year’s results demonstrate the benefit of our investment in tobacco and NGP.”

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GROWTH MARKETS AND USA

“We achieved a good set of results in Growth Markets and the USA.”

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RETURNS MARKETS

“We continue to focus on balancing returns with market share growth.”

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* movement on a constant currency basis

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2018 Annual REPORT

SECTIONS