Modern Oral Accounts for Most of BAT’s H1 New-Category Gain
VapeBrief's calculation separates the contributions behind BAT's £277 million reported revenue increase.
BAT’s New Category revenue rose £277 million in the first half of 2026. Modern Oral supplied £314 million of growth, partly offset by a decline in Heated Products.
The table uses reported revenue from BAT’s half-year filing. The change column is VapeBrief’s calculation.
| £ million | H1 2025 | H1 2026 | Change |
|---|---|---|---|
| Modern Oral | 470 | 784 | +314 |
| Vapour | 737 | 763 | +26 |
| Heated Products | 444 | 381 | −63 |
| Total | 1,651 | 1,928 | +277 |
Vapour contributed approximately 9.4% of the net increase: £26 million divided by £277 million. It nevertheless represented 39.6% of the resulting total. Size and contribution to growth are different measures.
The calculation uses BAT’s rounded reported-pound figures, not its constant-currency rates. It describes one company’s six-month revenue mix, not consumer purchases or the global vaping market.
Cover photograph: H005 / Wikimedia Commons; photograph source; CC BY-SA 3.0. Original photograph retained; display crop and size variants for layout.
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