BAT Sets Out $1.73 Billion Share Buyback, Backs 2025 Targets

British American Tobacco BATS -4.15%decrease; red down pointing triangle plans a 1.3 billion-pound ($1.73 billion) share buyback program next year and said it expects to meet financial targets for 2025, driven by growth in next-generation products.

The FTSE 100 tobacco group said Tuesday that it would deliver 2% organic growth in revenue and adjusted profit for its operations in 2025. In its new-category products segment, which includes its Vuse electronic cigarette range and its Velo nicotine pouches, BAT expects revenue growth to accelerate to double digits for the second half of the year.