No need to panic sir. Its only 10% here in this over-regulated business. Also smokers have been on the decline for a while now

Natural attrition?
As a matter of principle, I am not an investor in BAT. I don't smoke and don't like it if people smoke around me. Plus I find many smokers are rather inconsiderate and drop cigarette butts anywhere and everywhere.
All that said, the biz is very well run despite the challenges over the years!

BAT is a business that doesnt have a great future people dont smoke as much as the Marlboro man (remember him?!) or Sportsman for this matter, would want them to

Was it Buffett who said “When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”

Here is another quote for u to use on another forum: 😁😁😁😁

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.” Warren Buffett

BAT relies on the export market as the Kenyan market declines. Fewer Kenyans smoke but in less stable neighbouring countries like South Sudan, Congo and Nothern Uganda, cigarettes are worshiped like a god.

I use their results as a pulse of the economy in each given quarter. We appear to be entering a recessionary environment. Deflation here we come. just my view.