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Holding a 17.1% share of the ready made cigarette tobacco market, the premium segment remains significant for retailers and this house modernisation across both the 10s and 20s pack sizes will further strengthen retailer opportunity for good margins. For more information on the Camel house modernisation, retailers should speak to their local JTI representative or call the JTI Customer Careline on 0800 163 503 to arrange a visit

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"While PMTA approval may now be a 2024 event, with expected combined FY23 earnings and yield at double digit, and multiple risk now arguably skewed to the upside in the year ahead, near-term prospects are also still compelling," said Jefferies