BAT says U.S. vaping slowdown will lead to slower growth in e-cig business [Reuters]
British American Tobacco Industries, p.l.c. ADR (BTI)
NASDAQ:AMEX Investor Relations:
bat.com/ir
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Source: Reuters
BAT says U.S. vaping slowdown will lead to slower growth in e-cig business (Reuters) - British American Tobacco ( BATS.L ), the world’s no. 2 tobacco company by revenue, said on Wednesday a slowdown in the U.S. vaping market would result in slower growth in revenue from its “new categories” business that sells vaping products. The safety of vaping has been in the spotlight, with U.S. health officials reporting more than 2,000 cases of vaping-related lung illness and 47 deaths linked to its use in the country, leading to tighter regulatory scrutiny and individual state bans. This has led to a drop in demand for the devices, pushing the company to forecast revenue growth in its new categories business that sells e-cigarettes, tobacco heating products and oral products - to be at the low end of its 30-50% target. It had previously anticipated revenue growth in the middle of that range. U.S. vaping products make up 17% of the company’s new categories business and generate 0.8% of total
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