Plus   Neg

Imperial Brands Sees Lower FY Profit - Quick Facts

Imperial Brands plc. (IMB.L,IMBBF.PK,IMBBY.PK) said that it now expects adjusted earnings per share for full year to be slightly lower than last year, citing the US FDA's ban on certain flavours of cartridge-based vapour devices and weaker than expected consumer demand for vapour. It expects annual constant currency group net revenue to be at a similar level to last year.

In its AGM trading update, the company said tobacco trading remains in line with expectations, with a weighting to the second half as previously guided.

The company expects first half adjusted earnings per share to be down about 10% at constant currency, due to the phasing of inventory write-downs, primarily relating to the US flavour ban.

At current exchange rates, the company projects expect a currency translation headwind on net revenue and adjusted earnings per share of about 1% at the half year and about 3% at the full year.

The company noted that negotiations on the potential divestment of its Premium Cigar Division remain ongoing. It continues to consider the potential divestment of other non-core operations.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Former Google engineer Anthony Levandowski was sentenced by a U.S. judge to eighteen months in prison for stealing trade secrets from Google's self-driving car unit before he defected to Uber's rival unit. Levandowski admitted that from 2009 to 2016, he worked in Google's self-driving car program, known then as Project Chauffer. JetBlue has strengthened its face covering policy, by prohibiting face masks with vents or exhalation valves, starting August 10. It will also no longer allow customers to claim exemptions from wearing a face covering altogether. Home Depot, Inc. is set to open three new distribution centers in Georgia over the next 18 months, which is expected to create an additional 1,000 new jobs in Greater Atlanta, including full-time and part-time positions. The home improvement retailer has already created more than 5,000 new jobs in Georgia over the last five years.
Follow RTT