Imperial Group Volumes Off to A Good Start

Source from:  Tobacco Reporter 02/09/2011

The Imperial Tobacco Group has made a positive start to its financial year with sales of both cigarettes and fine cut during the first three months, October-December, increased on those of the equivalent period of 2009, according to an interim statement. "We made a good start to the year with underlying tobacco net revenues up five per cent and increased cigarette and fine cut tobacco volumes, resulting in total stick equivalent volumes up 1.2 per cent," chief executive, Alison Cooper, told the company's annual general meeting today. "Our global strategic cigarette brands grew by seven per cent with Davidoff, Gauloises Blondes and West continuing to perform strongly, particularly in emerging markets. "We continue to drive sales across our total tobacco portfolio. In fine cut tobacco we maintained our positive volume momentum, particularly in our Rest of EU region, and cigar volumes were also up with improved mix and strong results in the USA and emerging markets. In logistics, ongoing cost management initiatives have strengthened our operations. "Our enhanced sales strategy is delivering tangible results. We continue to focus on strengthening our position in markets where challenges persist, particularly in Spain and Greece, and on building sales across our international footprint, whilst managing costs and effectively utilising our substantial cash flows." Ahead of the AGM, Imperial confirmed that the overall operational performance and financial position of the group for the financial year to September 30 was in line with the board's expectations. Enditem