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Imperial Tobacco Revenue Falls

February 1st, 2012 Posted in Tobacco news Buy cheap cigarettes online Tags:

Tobacco Group PLC
Imperial Tobacco Group PLC, the world’s fourth-largest tobacco group by sales, Wednesday posted a fall in first-quarter revenue and volumes on tough comparisons, hit by a trade ban in Syria and de-stocking.

“Delivering the planned acceleration in our underlying sales momentum whilst continuing to realize cost and cash opportunities remain our priorities,” Chief Executive Alison Cooper said. The maker of Lambert & Butler, Gitanes Blondes and JPS cigarettes said tobacco revenue, excluding foreign exchange effects, fell 1% year-on-year in the three months to Dec. 31, while total volumes fell 7%.

Excluding foreign exchange effects and the impact of Syria, Spain, the U.S. and Ukraine, tobacco revenue grew 3%, with volumes down 1%.

The Bristol, England-based company also said revenue from its global cigarette brands grew 10% with Davidoff, Gauloises Blondes and West continuing to perform strongly.

Imperial’s investment priority is to further build its position in growth markets such as Eastern Europe, Africa, the Middle East and Asia, which show rising adult and middle-class populations.

Imperial Tobacco shares closed Tuesday at 2270 pence, valuing the company at £22.9 billion.

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