Recently, British American Tobacco Malaysia released its third-quarter performance report for 2024. The company’s overall product sales increased by 3.3% year-on-year; operating income increased by 0.5% year-on-year to US$130 million; net profit increased by 14% year-on-year to US$15.5 million.
The company’s performance growth is mainly attributed to the optimization of its product portfolio and the increase in sales of vape products.
British American Tobacco Malaysia pointed out in a media statement: Although the company’s vape product gross profit margin fell by 1.3% year-on-year, due to a year-on-year decrease in operating expenses of 28.9%, the operating profit for this quarter increased by 17.1% from the same period last year to US$22.72 million.
The company’s managing director, Nadal Salim, said that the financial performance in the third quarter of this year was exciting, especially the vape brand Vuse, which injected strong momentum into its development in Malaysia.
In this market environment, Veehoo vapes will continue to work hard, learn from successful cases and improve them to meet the challenges of the market. By continuously optimizing the product portfolio, increasing sales and revenue, and focusing on cost control and sales strategies, Veehoo vapes are expected to stand out in the fiercely competitive market and achieve sustained and steady development.
To enhance the competitiveness of Veehoo vapes, it is possible to meet consumer demand and expand market share by improving the product portfolio. The following are some attempts by Veehoo to improve its product portfolio:
- Diversified flavor selection: Expand the flavors of vape products, including classic flavors, fruit flavors, dessert flavors, etc., to meet the taste preferences of different consumers.
- Innovative product line: Introduce innovative vape products, such as the dual-chamber dual-core vape V8, smart vape T9, etc., to enhance the technological content and user experience of the products.
- Customized service: Provide personalized customization services so that consumers can customize vape products according to their taste preferences, nicotine needs, etc.
- Green and environmentally friendly products: Develop green and environmentally friendly vape products (such as D6s), focus on the concept of sustainable development, and meet the current consumer preference for environmentally friendly products.
- Supporting products and accessories: Launch supporting products and accessories, such as flavored cartridges, cigarette rods, etc., to provide a full range of vape experience.
By continuously improving its product portfolio, Veehoo vapes can better meet consumer needs, expand market share, enhance brand competitiveness, and achieve sustained growth and development.
Tags: vape sales growth，British American Tobacco Malaysia’s third-quarter profit，veehoo vape