Shares slide as BAT warns of steeper declines in cigarette sales
British American Tobacco remains upbeat on sales of vaping and e-cigarette products
12 June 2019 - 10:09
British American Tobacco (BAT), the world’s second largest tobacco company, warned on Wednesday of steeper declines in cigarette sales globally mainly due to waning demand in its main US market, sending its shares down more than 4%.
The maker of Lucky Strike and Dunhill cigarettes forecast global industry volumes to fall about 3.5% in 2019, with the US expected to decline 4%-5%. The company previously forecast a 3% drop globally and 3.5%-4.5% in the US...
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