LONDON (Alliance News) - Imperial Tobacco Group PLC Thursday said
tobacco net revenue grew by 4% at constant currency rates to GBP1.49
billion in the first quarter of its financial year, driven by volume and
revenue growth from its growth brands, and reaffirmed its outlook for
the full year, with dividend growth of at least 10%.
However, the global tobacco firm said it continues to take a hit from adverse currency movements, which in the three months to end-December pushed tobacco net revenue into negative territory at reported rates - down 2%.
"While still early in the financial year, movements in exchange since November mean that the current impact on earnings per share for FY15 is now estimated at around 4%," the company said in a statement.
Imperial measures volumes on a stick equivalent basis to reflect combined cigarette and fine cut tobacco volumes.
The company's growth brands - including Davidoff, Gauloises Blondes, JPS, West, Fine, News, USA Gold, Bastos, Lambert & Butler and Parker & Simpson and which generate a significant amount of its overall volume and revenue - grew underlying volume by 11% and net revenue by 15% in the quarter. Imperial said that growth was supported by its ongoing brand-migration programme.
Total tobacco volume was up 1% at reported rates to 71.8 billion stick equivalent, but was down 4% on an underlying basis, hit by the timing of price increases, Iraq and US mass-market cigars.
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However, the global tobacco firm said it continues to take a hit from adverse currency movements, which in the three months to end-December pushed tobacco net revenue into negative territory at reported rates - down 2%.
"While still early in the financial year, movements in exchange since November mean that the current impact on earnings per share for FY15 is now estimated at around 4%," the company said in a statement.
Imperial measures volumes on a stick equivalent basis to reflect combined cigarette and fine cut tobacco volumes.
The company's growth brands - including Davidoff, Gauloises Blondes, JPS, West, Fine, News, USA Gold, Bastos, Lambert & Butler and Parker & Simpson and which generate a significant amount of its overall volume and revenue - grew underlying volume by 11% and net revenue by 15% in the quarter. Imperial said that growth was supported by its ongoing brand-migration programme.
Total tobacco volume was up 1% at reported rates to 71.8 billion stick equivalent, but was down 4% on an underlying basis, hit by the timing of price increases, Iraq and US mass-market cigars.
Read more at Click here / www.trade4x.net
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