Imperial Brands Says Fiscal Year 2021 Net Revenue Grew Around 1%

By Anthony O. Goriainoff

Imperial Brands PLC said Wednesday that it expects to report that fiscal 2021 net revenue brew by around 1% on an organic, constant-currency basis, and that this is driven by a continued strong pricing in tobacco.

The FTSE 100-listed tobacco company--which houses the Davidoff, Gauloises and JPS cigarette brands as well as a number of vapor and heated-tobacco products--said that for the year ended Sept. 30 it expects to report adjusted organic operating profit growth in line with the board's guidance of low to mid-single digit constant-currency growth. The company said that this will reflect the significantly reduced losses in Next Generation Products, or NGP, and an increased distribution profit.

The company said reported second-half revenue from NGP is expected to be at a similar level to the first half, and that this is a reflection of the effect of market exits as it focuses on categories and markets with the best potential for sustainable growth.

"Full-year adjusted operating cash conversion is expected to be in line with expectations with the unwind of the temporary Logista cash benefits in fiscal 2020 resulting in a working capital outflow," the company said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

October 06, 2021 02:38 ET (06:38 GMT)

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