24 jul: Aktier/tendens: Nervøst marked, men måske et nøk op
24 jul: Obligationer/åbning: Stort set uændret åbning
24-07-2012 08:31:00

Imperial Tobacco Revenue Rises But Volumes Fall

Relateret indhold

By Simon Zekaria

LONDON--Imperial Tobacco Group PLC (IMT.LN) Tuesday posted a rise in revenue, boosted by price increases, but strong demand in emerging markets wasn't enough to avert a fall in volumes.

The world's No. 4 global tobacco group by sales said it is trading in line with expectations, posting a 3% rise in tobacco revenue in the nine months to June 30 on a constant currency basis.

Still, total stick volumes, which combine cigarette and fine-cut tobacco, fell 3% in the same period. For the beleaguered Spanish market, the decline was 11%.

"Challenging conditions persist in some markets, but we have a strong record of delivering growth in this environment and remain in a good position to continue maximizing value for shareholders," said Chief Executive Alison Cooper.

Imperial is building its position in developing economies such as Eastern Europe, Africa, the Middle East and Asia to offset a slowdown in developed markets, where consumers are struggling with tough economic conditions.

Smokers in developed markets are switching to low-cost brands as tax increases, spending cuts, unemployment and inflationary pressures squeeze discretionary spending, particularly in Europe.

The trend is also affecting Imperial's rivals. Market leader Philip Morris International Inc. (PM) last week reported a 3.8% fall in second-quarter net profit, attributed partly to weaker volumes in debt-laden Europe. And in March, British American Tobacco PLC (BATS.LN) recorded a slight fall in full-year volumes, even as profit went up. BAT is due to report its first-half earnings on Wednesday.

Like its peers, Bristol, England-based Imperial has offset soft volumes with price increases in selected markets to maintain and build profit margins.

The company's first-half net profit, reported in May, was hit by higher taxation and one-off finance items. It is targeting a full-year dividend payout ratio ahead of adjusted earnings-per-share growth.

Imperial Tobacco shares closed Monday at 2,449 pence, valuing the company at GBP24.3 billion.

Write to Simon Zekaria at simon.zekaria@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 24, 2012 02:31 ET (06:31 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Vestas får ordre på 178 MW til Kansas

04-05-2016 13:34:31
54 Vestas-møller skal i løbet af det næste år op at stå i vindblæste Kansas i USA.Capital Power Corporation har bestilt møllerne til Boom Wind-projektet, som få..

Aktier/åbning: Mærsk hiver C20 op på tung regnskabsmorgen- KORR

04-05-2016 09:31:23
KORR: Overskrift rettet til "åbning"En sand regnskabsstorm ramte investorerne fra morgenstunden, hvor blandt andet A.P. Møller-Mærsk, TDC, ISS, GN Store Nord, N..

Mærsk Q1: Tilbagegang mindre end frygtet

04-05-2016 08:19:18
Tilbagegangen i A.P. Møller-Mærsk var i årets første kvartal mindre, end analytikerne havde spået.Årets indledende tre måneder bød på en tilbagegang i omsætning..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

British American Tobacco.. 4.174,00 -0,4% Fald i aktiekurs
Philip Morris Internatio.. 99,64 0,5% Stigning i aktiekurs
Philip Mrrs Int-Wi 96,30 3,3% Stigning i aktiekurs
Philip Morris Intl 86,00 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
6. maj 2016 16:55:22
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160502.2 - EUROWEB2 - 2016-05-06 16:55:22 - 2016-05-06 16:55:22 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x