Imperial Brands FY profits rise as new product revenues surge
Imperial Brands
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10:05 19/11/24
Cigarette and maker Imperial Brands on Tuesday posted a 4.5% rise in full-year adjusted operating profit as revenues from new products such as vapes and nicotine pouches surged by more than a quarter.
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Profit for the year to September 30 came in at £3.5bn. On an adjusted basis earnings were up 4.6% to almost £4bn.
The company, which makes Winston cigarettes, vapes and nicotine pouches said it expected to deliver tobacco and new product net revenue growth at low single-digits on a constant currency basis.
New products revenues rose 26%, which helped narrow losses in the division by 43% to £79m.
Imperial also forecast adjusted operating profit growth close to the middle of its mid-single-digit range.
“This will be driven by continued profit growth from our combustible tobacco business and a further reduction in operating losses in our next generation product portfolio,” Imperial said.
Reporting by Frank Prenesti for Sharecast.com