April 25, 2018 / 6:39 AM / in 6 months

BAT plans to further raise investment in next-generation products

April 25 (Reuters) - British American Tobacco plans to increase investment in next-generation products such as e-cigarettes and devices that heat tobacco without burning it, this year, with a large number of launches planned for the end of third quarter.

The world’s second-biggest international tobacco company by revenue has thrown itself into the fiercely competitive battleground of alternatives, but it trails Philip Morris International in tobacco-heating devices that some see as more appealing to smokers.

BAT said foreign currency exchange rates would be a headwind for the business in 2018, but said it was on track for “another good year” of earnings growth, excluding the impact of currency translation.

Reporting by Arathy S Nair in Bengaluru, editing by Louise

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