HY Results – Revenue increased by 4.4% (2.6% at constant FX), driven by New Categories’ performance, making progress towards the £5 billion target by 2025. Non-Combustibles revenue now accounts for 16.6% of Group revenue, a 180 bps increase from FY22. Vuse and Velo continued to show strong revenue performance. New Categories’ financial delivery improved significantly, contributing a £201 million increase to Group profit as losses reduced, on track to achieve New Category profitability target in 2024. Reported profit from operations increased by 61.4% with reported operating margin at 44.2%. Reported diluted EPS rose by 118% to 176.0p, and adjusted diluted EPS increased by 5.3% at constant FX.
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