BAT(US:BTI)2025-07-31 08:30Financial Performance - HY25 total revenue reached £12567 million, a 18% increase compared to HY24 at constant rates[32] - New Category revenue grew by 24% to £1689 million[32] - Adjusted profit from operations increased by 19% to £5435 million, adjusted for Canada[32] - Adjusted diluted earnings per share (EPS) increased by 17% to 1621 pence, adjusted for Canada[32] New Categories - Smokeless products represent 182% of Group revenue, an increase of 70bps[28] - New Category contribution margin increased by 28 percentage points to 106%[28] - Velo Plus experienced strong volume share gains, up 87 percentage points from November 2024 to May 2025[89] Regional Performance - The U S saw a return to revenue and profit growth, driven by combustibles recovery and Velo Plus momentum[30, 46] - In the U S , Velo revenue grew by 384%[46] - Combustibles revenue in the U S increased by 38%[46] - APMEA was impacted by combustibles fiscal and regulatory headwinds, with a revenue decrease of 48%[52] Strategic Initiatives - The company increased its share buy-back program to £11 billion for FY25[28, 30] - The company is targeting >£12 billion in productivity savings from 2023-2025[59] - The company is aiming to generate >£50 billion in free cash flow by the end of 2030[69]