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Imperial warns U.S. vaping backlash to hit annual profit

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Imperial warns U.S. vaping backlash to hit annual profit

Imperial warns U.S. vaping backlash to hit annual profit

Imperial Brands said the regulatory crackdown on vaping in the United States will hit its full-year profit and revenue, wiping 12% off its shares on Thursday in the latest fallout for tobacco firms from the ongoing U.S. health crisis.

David Pollard reports.

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Imperial warns U.S. vaping backlash to hit annual profit

A health warning from tobacco giant Imperial Brands on Thursday (September 26) - not about its products, but its finances.

Full-year profits and revenues will take a hit, the British firm said ... From a regulatory crackdown on vaping in the U.S. - where it makes nearly a third of its profits.

Its shares slipped 12 per cent after the statement.

The U.S. government has announced a move to pull flavoured e-cigarettes from stores amid a spike in teenage usage ... And earlier this week, a senior official from the U.S. Centers for Disease Control reported on an investigation .... Into a mystery vaping-related disease that has sickened hundreds of people and killed nine.

Imperial dropped the word 'Tobacco' from its name in 2016 but still makes Winston, Gauloises and other cigarette brands.

It's cutting, it says, revenue growth forecasts by roughly half to two per cent.

Earnings per share will be flat.

Elsewhere too vaping is facing a growing backlash.

India and Brazil have imposed bans on products.

And on Wednesday (September 25), US tobacco firms Philip Morris and Altria - the biggest investor in e-cigarette maker Juul - axed their merger talks.




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