leadf
logo-loader
viewImperial Brands
(
LSE:IMB
)

Imperial Brands helped by price rises in first half

New products (NGP)  – such as vaping and heated tobacco - also started to recover

Imperial Brands -

Imperial Brands PLC (LON:IMB) has kept its guidance for the year unchanged even though the tobacco group posted strong first-half numbers.

Reported revenues for the half-year to end-March 2021 improved 6.1% to £15.5bn, with a 3.5% rise on an adjusted basis.

Pre-tax profits were £2.06bn (£785mln), though on an underlying basis improved by 8.6% to £1.58bn.

The John Player and Gauloises group said price rises of 6.5% in its cigarette business helped offset further volume declines of 3.3%.

New products (NGP)  – such as vaping and heated tobacco - also started to recover with revenues up by 16%.

Stefan Bomhard, new chief executive, said that tobacco market share was stabilising in its top five priority markets while the NGP performance had improved against a weak comparator period.

Market trials in vapour and heated tobacco are scheduled for later this year, he added.

The interim dividend rises by 1% to 42.12p.

Quick facts: Imperial Brands

Follow
LSE:IMB

Price: 1525.5 GBX

Market Cap: £14.44 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

FTSE takes a beating with stagflation and gas price surge worries

FTSE 100 suffered a grim open due to global worries about stagflation and local concerns over gas prices. London’s leading index slumped 85 points to 6,877 in early trading. The UK government is mulling over emergency state-backed loans to energy companies as they struggle to survive with gas...

2 hours, 35 minutes ago

2 min read