LONDON (ShareCast) - (Sharecast News) - Marlboro-owner Altria is to pull several of its vaping products ahead of possible ban of e-cigarettes to young people in the US.
Altria, parent of Philip Morris USA and e-cigarette brands MarkTen and Green Smoke, said it would cease selling certain flavoured vaping products until the US Food and Drug Administration had made a decision on underage vaping.

As traditional cigarette sales slip, tobacco companies have been increasingly focused on so-called reduced risk products. Vaping has surged in popularity in recent years, but there has been growing concern in the US about the impact on young people and the FDA is now considering banning the sale to certain age groups.

The company added it would support federal legislation to establish 21 as the minimum age to purchase any tobacco product.

The update came as Altria posted a 1.6% increase in net third-quarter revenues, to $6.8bn, on the back of higher sales of both tobacco and vaping products.

Revenues net of excise taxes were up 3.3% at $5.3bn. Reported diluted earnings per share were $1.03, a 6.2% increase on the same period last year.

In the year to date, revenues net of excise taxes were largely flat, ahead 0.4% at $14.8bn.

Chairman and chief executive Howard Willard called the numbers "excellent", adding: "Our tobacco businesses are successfully executing against their strategies, while making long-term strategic investments to drive long-term success.

"We believe our year-to-date performance positions us well to deliver on our full-year plans. As a result, we are tightening our guidance range to $3.95 to $4.03, representing a growth rate of 16.5% to 19%."

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