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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

We in Agriculture may not like to see our products attacked, but when it comes to sweeteners some of the concern appears warranted

The percentages of the tobaccos dull the effectiveness of the burley, and the overall sourness is unattractive, especially when a noticeable tone of cigarette becomes more obvious in the final third of the bowl

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