British American Tobacco (BAT) has lowered its expectations of its heated tobacco and vaping products this year – but still anticipates continuing growth.
The Big Tobacco company issued an investor update report ahead of analyst and investor meetings this week. It said it now expected its 2018 revenue from heat-not-burn (HnB) and vapour products to be $900m, rather than the previously predicted $1bn.
BAT CEO Nicandro Durante said: “I am delighted with the progress we are making with our Potentially Reduced Risk Products business and we have a great pipeline of new product launches over the coming months which will build on this success. We remain on track for a strong performance in 2018.”
The regulation of heated tobacco and modern oral products may remain unchanged for the foreseeable future in the Dominican Republic. The Caribbean country has a long way to go in the process of regulating alternative tobacco products, although heated tobacco products hit the market in 2018 and are increasingly popular