Turning Point lowers its expectations in face of hostile US regulatory picture

Turning Point Brands (TPB) has blamed the hostile regulatory environment for vapour products in the US for the lowering of its full year expectations for 2022.

TPB saw a net sales decline of 45% in the second quarter of the year compared to the same period of last year to $23.1m. That followed a 37% decline in vaping product sales the previous quarter. In all, gross profit for the quarter from the company’s “NewGen” products fell by 50.6% to $7.0m in Q2 2022.

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Antonia Di Lorenzo

Assistant news editor/senior reporter
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.

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