(Reuters) - Tobacco group Imperial Brands (L:IMB) said on Wednesday it expects full-year adjusted earnings to be slightly lower than last year due to a U.S. regulatory ban on some flavors of cartridge-based vapor devices and weaker consumer demand.
The warning comes on the heels of Stefan Bomhard's appointment as the Chief Executive Officer of the FTSE 100-listed group.
Imperial Brands said the ban by the U.S. Food and Drug Administration (FDA), which comes into effect this week, has led to a write-down of flavored inventory, which would have a 45 million pounds ($58.55 million) impact on first-half adjusted operating profit.