Imperial Brands To Build Up Inventory Worth £30m Ahead Of Brexit
British tobacco company Imperial Brands plans to build inventories next year, to avoid any potential supply disruption that might arise with Brexit, it said on Tuesday.
The maker of Gauloises and Winston cigarettes said it plans to build up around 30 million pounds ($39.19 million) worth of contingency stocks in first half of 2019, which will likely unwind by the end of the year.
"This is part of our broader contingency planning across several areas including manufacturing, supply chain and tax,” chief financial officer, Oliver Tant, said on a conference call.
The cigarette maker reported revenue of £30.5 billion (€35 billion) for the full year ended on 30 September, up from £30.2 billion (€34.6 billion).