Our strategy creates value by maximising sales, cost and cash opportunities.

Realising the potential of our total tobacco portfolio, market footprint and people is critical to delivering our strategy.

We apply consumer insights and our sales growth driver expertise to generate quality growth across our portfolio, whilst developing opportunities for additional long-term revenue growth through our new standalone business, Fontem Ventures.

Effective cost and cash management supports our strategy, and we ensure that our focus on shaping our environment, developing our people and managing our business responsibly is aligned with our growth priorities.

The consistent application of our strategy has delivered significant returns to shareholders over the years and we’re focused on building on this track record of value creation as we continue to transition the business. 

Delivering sustainable returns diagram

Business Model

Our business model illustrates in simple terms how we create value through our strategic focus on sales, cost and cash.

Our focus on quality sustainable sales growth, combined with the efficient way in which we manage costs throughout our operations, drives high operating margins.

This generates the strong cash flows which we use to reward our shareholders and to reinvest in the business.

Our strategy and business model are underpinned by strong governance and high standards of responsibility, and will continue to drive our sustainable development.

Business model diagram