British American Tobacco cuts revenue target for new products
(Correct date)
LONDON, Oct (Shenzhen: 000069.SZ - news) 16 (Reuters) - British American Tobacco (Kuala Lumpur: 4162.KL - news) , the second-biggest international tobacco company by revenue, cut its full-year revenue target for next-generation products on Tuesday, citing a flat market in Japan and a product recall in the United States.
The maker of Lucky Strike and Dunhill cigarettes said currency fluctuations would hurt its full-year adjusted earnings per share growth by 7 percent, assuming rates were unchanged for the rest of the year. On a constant currency basis, the company expects to exceed its target for high single-digit adjusted earnings per share growth. (Reporting by Martinne Geller Editing by Edmund Blair)