Vaping boost for Imperial Brands revenue
May 8, 2019
British tobacco company Imperial Brands reported 2.5 percent increase in revenue for the six months ended 31 March 2019, thanks to the strong growth of its vaping business.
Revenue of £148 million from the vaping business represented a 245 percent annual increase.
Net adjusted revenue stood at £3.6 billion, up 2.5 percent in constant currency terms, also driven by a good underlying tobacco performance.
“In tobacco, we continue to focus on our longstanding brand and market priorities, and are delivering high margin sales growth. Our Asset Brands continue to outperform and now represent two thirds of our revenue,” said Alison Cooper, chief executive of the firm.
The company stood by its full-year targets, calling for revenue growth at or above the upper end of a 1 to 4 percent range and earnings per share growth toward the lower end of its medium-term range of 4 to 8 percent.
