British American Tobacco (BAT) finds it difficult to estimate the impact of the corona crisis. For the time being, the company is sticking to the previously issued forecast of a turnover growth of 3 to 5 percent. The company said it would expect immediate growth of more than 3 percent.
According to BAT, the crisis in the first quarter has not yet really affected consumer demand for cigarettes. This is at odds with the findings of industry colleague Phillip Morris, who withdrew his forecasts last week because of the crisis. Especially the so-called duty-free purchases at airports, for example, have collapsed, because there are almost no travelers to sell cigarettes.
On the other hand, people who are forced to work from home may smoke more, according to Philip Morris. But it is also possible that at home smoking is less because of the family members.
