Strategy

We are focused on delivering sustainable sales growth through the smart leverage of our assets.

Our strategy continues to focus on sales, cost and cash. The fundamental earnings potential of our business remains strong, with price increases and cost efficiencies complementing organic volume growth.

We use our assets - our brands, our total tobacco portfolio, our broad market footprint and our people - to build sales and have three particular areas of focus when applying our strategy: consumer centricity, execution excellence and future foundations.

Delivering sustainable shareholder returns

Growth drivers

The growth drivers of our business are sales, cost optimisation and cash utilisation. At the heart of our strategy is our topline growth agenda complemented by our focus on optimising our costs and utilising our substantial cash flows to create additional value for our shareholders.

• Cost Optimisation
• Sales Growth
• Cash Utilisation

Our key assets

Our growth strategy is about maximising value from our four key assets – our brands, our unique total tobacco product portfolio, our extensive market footprint and our people.

How we leverage our assets

Smart leverage of these assets drives sales growth with three particular areas of focus: consumer centricity, execution excellence and future foundations.