British American Tobacco plc (LON:BATS) has said it is continuing to perform well with trading in line with the cigarette maker’s expectations.
In a pre-close season trading update, the FTSE 100-listed maker of Lucky Strike and Dunhill cigarettes added that it was confident it would deliver another year of good earnings growth at constant currency as its brands outperformed the industry.
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BAT said that its markets in Canada, Germany, Romania, Bangladesh and Ukraine were performing well, but that conditions remain challenging in Russia, the Gulf states, Brazil, South Africa and Malaysia.
The group added that its full year earnings per share will benefit from a reduced currency translation tailwind of 5%.
Away from cigarettes, the firm said the roll-out of its glo e-cigarette product in Japan is complete and has continued its excellent performance with its national share now at 2.7%.
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It added that glo has also been successfully launched in Canada, Switzerland, South Korea and Russia and is now available in a total of five countries.
BAT also said its vaping share in Western Europe continues to grow and the performance of VUSE in the US remains strong.