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Imperial Tobacco Group revenue down 4%

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Staff writer ▼ | August 20, 2015
Imperial Tobacco Group said it remains on track to achieve its fiscal 2015 targets, as it reported a 4% fall in tobacco revenue for the first nine months of the year.
Imperial Tobacco
Imperial Tobacco Group   On track to achieve its fiscal 2015 targets
The company said net underlying tobacco revenue for the nine months to June-end totaled 4.44 billion pounds ($6.93 billion), down from GBP4.63 billion in the year ago period. Volumes for the company's growth brands grew 15% in the period.

"This consistent delivery against our strategic agenda leaves us on track to deliver against full year expectations and to create further sustainable value for our shareholders," chief executive officer Alison Cooper said.

The owner of Lambert & Butler and Davidoff cigarette brands said it remains on track to deliver 10% dividend growth for the full year. It also said that full-year earnings per share will fall by around 4%, if current exchange rates persists.

Imperial Tobacco remains on track to deliver further savings of GBP85 million in its fiscal 2015. It achieved GBP90 million in savings in the first half.