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The goal was to align with the latest fashion trends to make the brand more attractive

Here's the scenario: NGP profits improve by 250m/yr, from reported losses of 1bn in 2021 to management's target of break-even in 2025 NGP profits continue growing by 250m/yr until they reach 1.25bn in 2030 The combustibles business produces sufficient earnings to grow BAT's overall earnings by 3% per year to 2030 Heres a chart showing what that would look like: The blue line shows NGP losses gradually turning into profits and the amber line shows headline earnings growing at about 3% per year

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Other studies around the same time (e.g., Hammond and Horn see Practice Problem 3.10, Wynder and Cornfield) found similar increases in "risk" with smoking

WYSAC, 2012)

If you purchase our cigarette boxes wholesale, the average cost per piece in such cases falls