Owen Bennett

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Owen Bennett is associated, including U.S., industry, and dynamics. Most recently, Owen Bennett has been quoted saying: “Industry volumes and pricing have become pressured due to the growth of cheaper illicit brands...A smoking ban could see any further recovery in the sales dynamics in the market stall.” in the article Philippines set to roll out tough no-smoking law.

Owen Bennett quotes

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Macros are supportive, pricing potential is significant ... and also a large margin opportunity still. Litigation risk is now largely behind us also. The U.S. will now make up over 40 percent of BAT profit versus just under 20 percent previously.

Industry volumes and pricing have become pressured due to the growth of cheaper illicit brands...A smoking ban could see any further recovery in the sales dynamics in the market stall.

We believe this is the start of a new era with industry value drivers fundamentally more favorable than in the past. On this basis, we believe valuations can be justified and look attractive (even cheap) on an underlying number.

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