British American Tobacco shares choke on £6.2bn Canadian lawsuit


British American Tobacco shares choke on £6.2bn Canadian lawsuit

Updated: 09:05 GMT, 13 February 2025 British American Tobacco shares fell sharply on Thursday after the group revealed a £6.2billion hit from a long-running legal spat in Canada. It came as the FTSE 100-listed tobacco giant's boss warned of 'significant' headwinds in Bangladesh and Australia this year, after the group missed its annual revenue target. Health risks associated with tobacco and smoking alternatives have been under regulatory scrutiny for several years, and cigarette makers are facing several challenges globally from policy shifts to anti-tobacco activism. In its annual results on Thursday, chief executive Tadeu Marroco, said: 'We are committed to Building a Smokeless World and becoming a predominantly Smokeless business by 2035.' British American Tobacco reported an annual profit from operations of £2.7billion, up from a loss of £15.8billion last year. But British American Tobacco shares fell 8.19 per cent or 278.01p to 3,115.99p on Thursday, having risen nearly 30 per cent in the last year.