Imperial Brands Sees 1st Half Growth in Net Revenue, Adjusted Profit
March 30 2021 - 2:48AM
Dow Jones News
By Adria Calatayud
Imperial Brands PLC said Tuesday that it expects to report
higher organic net revenue and adjusted operating profit at
constant currency for the first half of fiscal 2021, and reiterated
its full-year expectations.
The FTSE 100 tobacco company--which houses the Davidoff,
Gauloises and JPS cigarette brands as well as a number of vapor and
heated-tobacco products--said adjusted operating profit for the six
months to March 31 is expected to grow at least at mid-single
percentage digits at constant currency. Adjusted profit benefited
from reduced losses in next-generation products and an increased
logistics profit.
Net revenue for the first half is expected to grow by at least
1% on an organic, constant currency basis. This was driven by
continued strong pricing in tobacco and some benefit from growth in
next-generation-product revenue against a weak year-earlier
comparative period, Imperial Brands said.
The company said it continues to expect low-to-mid-single-digit
growth in organic adjusted operating profit at constant currency
for fiscal 2021, reflecting increased investment. However, it
warned of a foreign-exchange hit of around 2% on full-year earnings
per share.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 30, 2021 02:33 ET (06:33 GMT)
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