Imperial Brands Sees 1st Half Adjusted Operating Profit Up 2%

By Jaime Llinares Taboada

Imperial Brands PLC said Wednesday that its adjusted operating profit is expected to grow by around 2% on a constant currency basis in the first half of the fiscal year, and reaffirmed recently provided full-year guidance.

The tobacco group said profitability for the half ended March 31 benefited primarily from reduced losses in next generation products. In addition, net revenue for the six-month period is expected to be broadly flat, in line with expectations, reflecting a weaker tobacco performance in Europe which was offset by growth elsewhere.

Imperial Brands said it remains on track to deliver full-year results in line with guidance issued on March 15, with net revenue growth of 0%-1% on a constant currency basis and adjusted operating profit growth of around 1%.

The company said it remains in talks with a local third party for the transfer of its assets and operations in Russia.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

April 06, 2022 02:33 ET (06:33 GMT)

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