Tobacco giant says cannabis is part of the future
London, Jul 28 (EFE).- British American Tobacco, one of the world’s largest tobacco firms, said Wednesday it sees part of its future in cannabis and other related products.
“I think (cannabidiol vaping) is part of the future,” BAT chief marketing officer Kingsley Wheaton told the BBC.
Wheaton added that the tobacco company has pilot-launched a cannabis vaping product in Manchester, north of England.
In March, BAT bought a 20% stake in the Canadian medical cannabis producer Organigram, and is planning to develop a whole range of cannabis products for adults.
“As we think about our portfolio for the future, certainly beyond nicotine products are interesting for us as another wave of future growth,” Wheaton underlined.
The executive, however, said that encouraging people to switch to healthier products poses a challenge.
BAT vaping brands of Vuse, Velo and glo saw have seen a revenue growth of 59%, according to Wheaton.
The tobacco giant made 12.2 billion pound sterling ($16.9 billion) in the first half of the year, 0.8% less than the same period in the previous year, according to preliminary results admitted to the London Stock Exchange.
Meanwhile, cigarette sales grew in the first half of 2021 in some developing countries, after plummeting during the coronavirus pandemic. Brands such as Lucky Strike, Dunhill and Kent advanced in countries like Brazil, Turkey and Pakistan. EFE