DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
A-Brands

Imperial Brands' First-Half Profit Beats Analysts' Estimates

By Steve Wynne-Jones
Share this article
Imperial Brands' First-Half Profit Beats Analysts' Estimates

Imperial Brands Plc, the UK cigarette-maker that dropped the word tobacco from its name, reported a first-half profit that beat analysts’ estimates, as newly acquired brands in the US gained market share.

Adjusted operating profit from tobacco rose to £1.58 billion ($2.3 billion) in the six months through March, the maker of Davidoff cigarettes said in a recent statement. Analysts expected £1.53 billion.

‘‘We’re focused on maintaining momentum in the second half, and remain on track to meet full-year expectations,” chief executive officer Alison Cooper said in the statement.

Last year, Bristol, England-based Imperial paid £4.6 billion for US brands including Winston and Kool in a bid to gain a bigger foothold in the world’s second-biggest tobacco market.

News by Bloomberg, edited by ESM. To subscribe to ESM: The European Supermarket Magazineclick here.

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.