Imperial's Performance Remains on Track

Source from:  Tobacco Reporter 09/22/2011

The Imperial Tobacco Group said today that it expects its stick equivalent volume for the year to the end of September 30 to be about two per cent down on that of the previous 12 months. In publishing a trading update, Imperial said that the overall financial performance and position of the group for the financial year to September 30 remained in line with the board's expectations. Imperial said it continued to focus on driving growth through its total tobacco portfolio in EU and non-EU markets. Tobacco net revenues were expected to be up by about two per cent with particularly strong performances in its Eastern Europe, Asia-Pacific and Rest of EU regions. "Stick equivalent volumes are expected to decline around two per cent, Imperial reported in a note posted on its website." "Excluding Spain and the impact of a change in timing of a price increase in the UK, tobacco net revenues are expected to increase by around three per cent and stick equivalent volumes to decline by less than one per cent." "In Spain, recent price increases will benefit our tobacco and logistics operations. These benefits will offset the impact of the change in timing of the UK price increase." Imperial expects to release its results for the year ending September 30 on November 1. Enditem