{"id":1944997,"date":"2023-06-06T07:42:02","date_gmt":"2023-06-06T11:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lucky-strike-maker-bat-backs-forecast-but-us-growth-a-drag\/"},"modified":"2023-06-06T07:45:50","modified_gmt":"2023-06-06T11:45:50","slug":"lucky-strike-maker-bat-backs-forecast-but-us-growth-a-drag","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lucky-strike-maker-bat-backs-forecast-but-us-growth-a-drag\/","title":{"rendered":"BAT supports forecast, but US growth is slow."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flucky-strike-maker-bat-backs-forecast-but-us-growth-a-drag%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1944997&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>BAT Maintains Annual Forecasts Despite Weaker Cigarette Demand in the US<\/h2>\n<p>By Eva Mathews<\/p>\n<blockquote>\n<p>\u201cOur performance in U.S. combustibles has been disappointing,\u201d newly appointed Chief Executive Tadeu Marroco said in a statement.<\/p>\n<\/blockquote>\n<p>British American Tobacco (BAT) has announced that it will maintain its annual revenue and profit forecasts, despite weaker cigarette demand in the United States. The company has stated that its performance will be weighted towards the second half of the year, as it grapples with the decline in demand. BAT has also ramped up investments in e-cigarettes and so-called heat-not-burn devices as consumers switch to tobacco-free products. However, government efforts to regulate these alternatives, along with the threat of illicit sales, remain an overhang.<\/p>\n<h3>Global Tobacco Industry Volume Expected to Fall<\/h3>\n<p>BAT said the number of consumers of non-combustible products grew by 900,000 globally in the first quarter, but growth in the U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-bidens-menthol-ban-endangers-black-bodies\/\" title=\"How Biden\u2019s Menthol Ban Endangers Black Bodies\">cigarette market<\/a> had waned as price-sensitive consumers switched to cheaper brands. The Lucky Strike cigarette maker said <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lucky-strike-maker-bat-backs-forecast-but-us-growth-a-drag\/\" title=\"BAT supports forecast, but US growth is slow.\">global tobacco industry volume<\/a> was now expected to fall around 3% in 2023, compared to an earlier forecast of a 2% decline. U.S. peers Altria and Philip Morris also missed quarterly sales expectations as demand for cigarettes fell.<\/p>\n<h3>California Ban on Flavoured Tobacco Products<\/h3>\n<p>London-listed BAT was also dealt a blow by a voter-approved ban on flavoured tobacco products in California, America\u2019s most-populous state, although it said sales of its flavoured products in surrounding states had risen.<\/p>\n<h3>Organic Revenue and Adjusted Earnings Per Share Growth<\/h3>\n<p>The Dunhill cigarette maker continues to expect a 3% to 5% rise in 2023 organic revenue at constant currency rates and mid-single digit growth in adjusted earnings per share.<\/p>\n<h3>Other News<\/h3>\n<ul>\n<li>A new cast of characters enter an already <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/daily-feed-6-5-23\/\" title=\"Daily update 6\/5\/23\">crowded 2024 election roster<\/a>.<\/li>\n<li>Defense Secretary Lloyd Austin meets with officials in India to support relations between the two countries.<\/li>\n<li>California is now considering a bill, AB 665, that would send children as young as 12 years old to group home without parents permission.<\/li>\n<li>Violent crime continues to plague San Francisco.<\/li>\n<li>Taiwan chipmaker TSMC is feeling \u201cgood\u201d about talks towards setting up its first European factory in Germany.<\/li>\n<li>Hong Kong\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-swiss-central-bank-plans-at-least-50-basis-points-rake-hike-in-september\/\" title=\"Report: Swiss Central Bank Plans at Least 50 Basis Points Rake Hike in September\">central bank plans<\/a> to test the use of its digital currency.<\/li>\n<li>Investors have pulled around $780 million from crypto exchange Binance in the last 24 hours, data firm Nansen said.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>British American Tobacco has kept its yearly revenue and profit predictions unchanged, despite weaker cigarette demand in the US. The company expects its performance to be stronger in the second half of the year. Newly appointed CEO Tadeu Marroco acknowledged the disappointing performance in US combustibles.<\/p>\n","protected":false},"author":66,"featured_media":1944998,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[14658,16788,10597,8057,9787],"class_list":["post-1944997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-bat","tag-forecast","tag-growth","tag-slow","tag-supports"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1944997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1944997"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1944997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1944998"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1944997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1944997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1944997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}