- British American Tobacco reported a rise in half-yearly operating profits as sales of its vaping products offset weaker cigarette sales.

First-half adjusted operating profit rose 5.9% at constant rates to £5.21bn and revenue rose 4.6% to 12.17bn.

Revenues were bolstered by its new category, which included smoking alternatives such as heated tobacco and vaping, rising 27%, below full-year guidance of 30% to 50%. The company, however, said it remained on track to meet the midpoint of that range.

Total cigarette and THP volume declined 3.5% to 336bn sticks.

'We are on track to deliver another good financial performance in 2019, including high single figure adjusted earnings growth, at constant rates of exchange,' the company said.

At 8:15am: [LON:BATS] British American Tobacco PLC share price was +31p at 2983p

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