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.

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.

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