Big Tobacco is ramping up its transition

British American Tobacco’s (BATS.L) higher revenue guidance is a sign its overhaul is working. The UK group reckons its 2021 revenue will grow more than 5% rather than between 3% and 5%, thanks in part to growth in products that carry less of a health risk.

This gets BAT closer to its 2025 goal of 5 billion pounds in revenue from products such as its Vype and Glo brands. Its revenue was 26 billion pounds last year, 1.4 billion pounds of which came from these newer…