BAT bemoans vaping slowdown in US

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BAT bemoans vaping slowdown in US
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But excluding the US, BAT says it will be able to hit new categories growth in the middle of its previously specified range

British American Tobacco. Picture: BLOOMBERG/LUKE MACGREGOR

The safety of vaping has been in the spotlight, with US 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. US vaping products make up 17% of the company's new categories business and generate 0.8% of total group revenue, according to Jefferies analysts.

Earlier in November, rival Imperial Brands issued a cautious forecast for 2020, citing a “challenging” and “volatile” US regulatory environment.

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