Imperial volumes drag in the first quarter - UPDATE

Imperial Tobacco has seen reported stick equivalent volumes fall 7% in the three months to December 31st, due to the trading difficulties in Syria, Spain, USA and Ukraine.

Imperial Tobacco has seen reported stick equivalent volumes fall 7% in the three months to December 31st, due to the trading difficulties in Syria, Spain, USA and Ukraine.

Syria accounted for 3% of the volume decline due to the ongoing impact of international sanction compliance there, while the rate of the volume decrease in Spain was in double-digits. Meanwhile, a further 3% of the overall fall in volumes relates to trade stock levels around a price increase in the USA and distributor destocking in Ukraine.

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