A smoking article (2 44 50) comprises: a combustible heat source (4) having opposed front (6) and rear (8) faces an aerosol forming substrate (10) downstream of the rear face (8) of the combustible heat source (4) a first heat conducting element (36) comprising one or more radially inner layers of heat conductive material overlying a rear portion of the combustible heat source (4) and a second heat conducting element (38 64) comprising one or more radially outer layers of heat conductive material overlying at least a portion of the aerosol forming substrate (10) wherein the one or more radially outer layers of heat conductive material do not overlie the one or more radially inner layers of heat conductive material.
