IMPs has smokin' second quarter
Cigarettes maker Imperial Tobacco said it improved its revenue and profit momentum as it entered the second half of its financial year.
Cigarettes maker Imperial Tobacco said it improved its revenue and profit momentum as it entered the second half of its financial year.
First half reported tobacco net revenues (at constant exchange rates) are expected to increase by around 3% and reported stick equivalent volumes are expected to decline by around 4%. That compares with a 7% year-on-year fall in stick equivalent volumes in the three months to the end of December, and a 1% fall in net revenues.
"Our performance reflects continued success across our key strategic brands Davidoff, Gauloises Blondes, West and JPS and our luxury Cuban cigar portfolio, complemented by fine cut tobacco gains and further smokeless growth," the statement from IMPs said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
jh
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
High earners underestimate how much they need to retire comfortably
High net worth individuals grossly misjudge how much money they need for a comfortable retirement, new data shows, with many not saving enough.
-
Retired banker who gave wife £80m to avoid inheritance tax won’t face equal split in divorce
Family lawyers say the Supreme Court ruling will have significant impact on high net worth divorce cases