British American Tobacco (NYSE:BTI) stated on Thursday that it anticipates full-year revenue growth of between 2% and 4% at constant currency rates, as an increasing number of individuals use its e-cigarettes and oral nicotine products.
BAT (LON:BATS) expects adjusted diluted profits per share increase in the mid-single digits on a constant currency basis for the year ending December 31.
In addition, the Lucky Strike cigarette manufacturer anticipates “significant adjusted operating margin expansion notwithstanding rising inflation in our supply chain.”
In the first nine months of the year, BAT predicted that an additional 3.2 million consumers began using its non-combustible goods, increasing the total number of users to around 21.5 million.
The company said that third-quarter sales of its combustible cigarette brands were flat, but did not issue a full-year sales prediction for this segment.