1356 GMT - British American Tobacco is confident that sales in the key U.S. market will return to growth this year and onward, Chief Executive Tadeu Marroco says in a conference call. Regional sales of the FTSE 100 tobacco group were hurt by continuing macroeconomic pressures on consumer spending, which led consumers to seek cheaper options, and the lack of action against illegal vapor products. Marroco doesn't expect the U.S. legal backdrop to change regarding the growing presence of illicit single-use vapes. However, he says the group is boosting investments to strengthen the business, particularly betting on the nicotine pouches Velo. Share are down 7.8% at 31.30 pounds. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 08:56 ET (13:56 GMT)
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