BAT Subsidiary WITCO: Vuse Has Strong Positive Impact on Revenue

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Apr.24.2024

BAT Subsidiary WITCO: Vuse Has Strong Positive Impact on Revenue

WITCO CEO Raoul Glynn announced at a press conference that Vuse e-cigarettes will positively impact company revenue.

According to a report by Newsday on April 24th, Raoul Glynn, CEO of West Indies Tobacco Company Limited (WITCO), announced at a press conference held at the Queen's Hall in Spain on April 23rd that the e-cigarette brand Vuse will have a strong and positive impact on the company's revenue.

The quality of Vuse products surpasses that of other brands on the market, with attractive prices and a strong profit structure. Witco's advantage lies in its distribution and ability to obtain the necessary products, which is what we value.

Greene stated that approximately 12% of consumers in the market are using e-cigarette products. "We anticipated changes in the market and observed e-cigarettes growing in a way that does not decrease tobacco sales."

Last week, the company revealed that as of December 31, 2023, its annual revenue had increased by 5.9% compared to the previous year. The company's financial director, Johan Grosberg, stated that despite taking many measures to improve operational efficiency last year, increased costs of raw materials, packaging, and labor led to an increase in sales costs. However, they were able to benefit from reduced expenses.

The brand support expenses align with our marketing plan, allowing us to trim slightly and execute the plan more effectively. Additionally, as part of a large group, we benefit from some restructuring taking place outside of the group.

References:

[1] Witco: New vape to boost revenue

Also Read:

[1] BAT to Establish Smokeless Product Production Center in Pécs, Hungary

[2] BAT CEO Urges Anvisa to Advance E-Cigarette Regulation in Brazil

[3] BAT Urges Stricter Regulations for E-cigarettes in the UK

[4] BAT Extends Partnership with McLaren F1 Team, Unveiling MCL38 Design by Japanese Artist

[5] West Indian Tobacco Company Enters E-Cigarette Market with Vuse Go

#North America #Open system e-cigarettes #Market #Spain #vuse

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