Imperial Brands Sees 1st Half Growth in Net Revenue, Adjusted Profit

   By Adria Calatayud 
 

Imperial Brands PLC said Tuesday that it expects to report higher organic net revenue and adjusted operating profit at constant currency for the first half of fiscal 2021, and reiterated its full-year expectations.

The FTSE 100 tobacco company--which houses the Davidoff, Gauloises and JPS cigarette brands as well as a number of vapor and heated-tobacco products--said adjusted operating profit for the six months to March 31 is expected to grow at least at mid-single percentage digits at constant currency. Adjusted profit benefited from reduced losses in next-generation products and an increased logistics profit.

Net revenue for the first half is expected to grow by at least 1% on an organic, constant currency basis. This was driven by continued strong pricing in tobacco and some benefit from growth in next-generation-product revenue against a weak year-earlier comparative period, Imperial Brands said.

The company said it continues to expect low-to-mid-single-digit growth in organic adjusted operating profit at constant currency for fiscal 2021, reflecting increased investment. However, it warned of a foreign-exchange hit of around 2% on full-year earnings per share.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

March 30, 2021 02:33 ET (06:33 GMT)

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