Imperial Brands 1st Half Profit Soared Amid Pandemic
By Matteo Castia
Imperial Brands PLC reported Tuesday a sharp rise in pretax
profit for the first half of fiscal 2021, boosted by rising revenue
from changing consumer habits amid the coronavirus pandemic.
The tobacco group --which houses Davidoff, Gauloises and JPS
among its brands-- made a pretax profit of 2.06 billion pounds
($2.91 billion) for the six months ended March 31, compared with
GBP785 million in the year-earlier period.
Revenue rose to GBP15.57 billion from GBP14.67 billion a year
Operating profit, one of the company's preferred metrics, jumped
to GBP1.64 billion from GBP925 million the prior year, driven
primarily by profit on disposal of the Premium Cigar Division worth
GBP281 million and a reduction in amortization and impairment of
acquired intangibles worth GBP225 million, the FTSE 100 company
The board declared an interim dividend of 42.12 pence, a 1%
increase on the year in line with the group's progressive dividend
Write to Matteo Castia at email@example.com
(END) Dow Jones Newswires
May 18, 2021 02:35 ET (06:35 GMT)
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