The Imperial Tobacco Group's volume cigarette sales during the six months to March 31, at 151.5 billion, were 25 per cent up on those of the six months to the end of March 2008.
Cigar volumes were up by 94 per cent to 1,399 million, while fine-cut volumes were up by four per cent to 12,150 tonnes.
![]()
The results for this year include a full six months contribution from Altadis, whereas last year's six months results included an Altadis contribution only between the completion of the acquisition on January 25 and March 31, 2008.
In the 12 months to the end of September 2008, Imperial's volumes comprised 291.8 billion cigarettes, 2,452 million cigars, and 25,150 tonnes of fine-cut.
In the UK, Imperial's cigarette volumes during the six months to March 31, at 9.8 billion, were down from 10.8 billion during the six months to the end of March 2008, and its market share was down from 46.1 per cent to 45.5 per cent.
The company's UK fine-cut volumes, at 1,200 tonnes, were increased from 1,150 tonnes, but market share was down from 62.2 per cent to 58.7 per cent.
In Germany, Imperial's cigarette volumes, at 11.5 billion, were increased from 10.4 billion but its market share was down from 27.5 per cent to 27.3 per cent.
The company's German-market sales of other tobacco products, at 3.5 billion, were unchanged, though its market share slipped from 20.1 per cent to 20.0 per cent.
And in Spain, Imperial's cigarette volumes, at 15.8 billion, were increased from 6.4 billion but its market share was down from 37.5 per cent to 36.8 per cent.
The company's fine-cut volumes, at 1,000 tonnes, were increased from 500 tonnes, though its market share was down from 49.4 per cent to 45.8 per cent.
In the rest of Europe, meanwhile, Imperial's cigarette volumes were up from 24.6 billion to 27.2 billion, while its fine-cut volumes were down from 6,750 tonnes to 5,850 tonnes.
In the Americas, Imperial's cigarette volumes were down from 6.4 billion to 6.0 billion, but its market share was up from 4.1 per cent to 4.3 per cent.
Its fine-cut volumes were up from 150 tonnes to 450 tonnes and its fine-cut market share rose from 3.4 per cent to 9.0 per cent, a result that was said to have reflected the company's investment in the Rave brand and further gains from Premier and McClintock.
In the 'Rest of the World', region, cigarette volumes were up from 62.2 billion to 80.5 billion, while fine-cut volumes were unchanged at 1,000 tonnes.
Group revenue during the six months to March 31, at £12,420 million, was up from £8,056 million during the six months to the end of March 2008, while tobacco revenue was up from £6,936 million to £8,705 million.
Group profit from operations was up from £918 million to £1,369 million, while tobacco profit from operations was up from £897 million to £1,301 million.
Commenting on the results, chief executive, Gareth Davis, said, "We delivered a good first half operational performance, achieving further gains in a number of markets, while making considerable progress on the integration of Altadis.
"Our international footprint and balanced portfolio have improved our position in both mature and emerging markets, with particularly good growth from our key cigarette brands Davidoff, Gauloises Blondes, Gitanes Blondes and JPS.
"The completion of all consultations relating to our European integration projects has enabled us to further progress implementation and we remain on track to achieve our synergy targets.
"We are not immune from the pressures of the external environment but our enhanced business profile, combined with our ongoing focus on cost and cash management, leave us well placed to continue to create sustainable value for our shareholders." Enditem