Growth expected

British American Tobacco (BAT) Chairman Richard Burrows said the company is expecting another year of profit growth, despite concerns of tighter regulations in the United States.

BAT forecast earlier this year that the company would have “another year of high single figure adjusted constant currency earnings growth” for 2019 and noted a board proposal to increase its dividend by 4 percent.

“While our business is continuing to perform very well we are very conscious that investor sentiment over the last year has been negatively impacted by concerns over possible regulation in the U.S. and competitor dynamics in new categories resulting in a sharp fall in our share price,” Burrows said.

“I am, however, confident that the business is in good shape and that the causes of these concerns in fact present significant opportunities for future growth.”