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  "documentTitle": "BAT | Results Presentation Deck | 40 slides",
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  "authorName": "BAT",
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  "presentationDate": "2022-04-01 00:00:00",
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      "text": "% change calculated based on FY21 v FY20. * Reduction in losses at category contribution level. Profitability by 2025 at category contribution level: Profit from the sales of brands after deduction of directly attributable costs (including marketing) and before allocation of overheads. ** Reference to trade margins is to recommended margins based on recommended resale prices. *** Across New Categories.",
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      "text": "Improved Trade Margin: Vuse Trade Margins improved by 31%. Reduced Cost of Goods: Further scale benefits, c.£220m productivity savings, Vuse Cost of Goods reduced by 22%. MSE: Revenue Growth Management, big data, consumer acquisition cost reduction.",
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      "text": "Vuse achieved US profitability in H2 2021 A key milestone in our Pathway to Profitability by 2025*",
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      "text": "Together with c.£100m reduced losses* from New Categories driven by growing scale",
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