By Michael Susin

British American Tobacco PLC backed its 2022 guidance on Thursday after a robust performance from its vaping and oral tobacco business, despite inflation hitting its supply chain.

The tobacco company said it continues to expect 2022 revenue growth to be 2% to 4% at constant currency, supported by the new category business, which includes vapor, oral, and tobacco-heating products.

"Our new category business continues to drive strong volume, revenue and market share growth and has become a significant contributor to group performance," the company said.

By 2025, the new category business is targeted to deliver profitability and revenue of 5 billion pounds ($6.10 billion).

The company said its medium-term guidance remains unchanged. Adjusted earnings per share--which strips out exceptional and other one-off items--is expected to be at mid-single figure in 2022.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

December 08, 2022 02:35 ET (07:35 GMT)

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