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Cigarette and vape-maker Imperial Brands said that it expects to meet expectations this year with rises in profit and revenue, but warned that its next-generation products had taken a hit in the US. Revenue and operating profit will grow this year, it said, despite remaining flat in the first half. Much of the cigarette industry is putting its hopes in new products such as heated tobacco and vaping pens as it tries to find new products to replace traditional tobacco which causes cancer.
On Wednesday, e-cigarette maker Juul agreed to pay nearly half a billion dollars to settle claims by six US states that it had unlawfully marketed its products to minors, according to reports. Imperial Brands still managed to grow its share of the cigarette and other combustible products market in the US, Spain and Australia, three of its priority areas. This offset declines in the UK and Germany. It means that the company has seen market share remain stable for two years running after several years of decline.
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