StockMarketWire.com - British American Tobacco said it expected annual adjusted profit at the upper end of long-term guidance range despite lower sales in the US amid a regulatory crackdown on sales of vaping products.

Full-year constant currency adjusted operating profit growth was expected in the upper half of its 5% to 7% long-term guidance range, BATS said.

Constant currency adjusted revenue growth was also expected in the upper half of its 3-5% long term guidance range.

Full-year new category constant currency revenue growth, meanwhile, was forecast at the lower end of its range of 30% to 50%, reflecting the recent slowdown in the US vapour market, it added.

The tobacco company also said it expected full-year volumes to be broadly in line with the industry, after adjusting for the continued impact of Egypt and Venezuela and a 60 basis point impact from a one-off stock reduction in Russia.

'We are driving value growth in combustibles, we are investing to deliver a step change in New Categories and we are transforming the business to create a stronger, simpler, more agile BAT. We are on track for a strong year,' said Jack Bowles, chief executive.

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