British American Tobacco PLC (BATS.LN) said on Wednesday that it expects to generate 500 million pounds in revenue ($658.4 million) this year from its next-generation products--a category that includes tobacco heating and vapor products.
The tobacco company added that it is looking to double that figure in 2018 to more than GBP1 billion, and expects its NGP business to deliver GBP5 billion in 2022.
Continue Reading Below
The company went on to say that it expects the business to break even by the end of 2018 and make a substantial profit by 2022.
BATs said that it would shortly be announcing new details of its NGP business line.
The company also provided an update on the impact of foreign-currency movements on its full-year financial figures. BATs said that if exchange rates remain unchanged for the rest of the year, it expects a currency boost of 6.5% on operating profit and of 5.5% on earnings per share.
The business continues to perform well and its remains confident of another good year of earnings growth at constant currency, it added.
Write to Carlo Martuscelli at email@example.com
(END) Dow Jones Newswires
October 25, 2017 02:37 ET (06:37 GMT)