British American Tobacco PLC said Tuesday that its business in the first half has been performing well amid the pandemic, but it has downgraded its adjusted revenue growth expectations for the full year.
The tobacco company--which houses a number of electronic and vaping products as well as traditional cigarettes--said adjusted revenue for 2020 is now expected to grow in the range of 1% and 3% on a constant currency basis, down from expected growth in the range of 3% and 5%. It anticipates a full-year headwind of around 3% in adjusted revenue from the coronavirus pandemic. BAT's second half begins on July 1.