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British American Tobacco, the world’s second-largest tobacco maker, unveiled on March 30 a new corporate strategy and 1 billion pounds ($1.24 billion) cost-saving and investment plan.

The announcement came with a new corporate goal to build “A better Tomorrow” by reducing the health impact of its business by offering less risky products amid a decline in sales of traditional cigarettes.

The company said its “new category” products, including e-cigarettes and tobacco heating items, will drive revenue growth. It expects to create 5 billion pounds in new category revenue in 2023/24.