Imperial Brands Reports Growth in First Half Financial Results

Business by 2FIRSTS.ai

May.15.2024

Imperial Brands Reports Growth in First Half Financial Results

Imperial Brands reports increase in first half operating profit, driven by rising prices and demand for tobacco alternatives.

On May 15th, Imperial Brands released their financial report for the six months ending on March 31, 2024. The report shows that due to price increases and a growing demand for tobacco alternative products, the company's operating profit for the first half of the year has increased. During the reporting period, the company achieved revenue of £15.1 billion, a decrease of 2.3% year-on-year; when adjusted for fixed exchange rates, the operating profit increased by 2.8% to reach £1.67 billion.

Sales of the Empire's new generation tobacco product (NGP) brand, including Pulze heated tobacco and Blue-cigarette, have increased by 16.8%. The company has also raised its interim dividend by 4% to 44.90 pence.

CEO Stefan Bomhard stated, "The tobacco pricing actions taken in the first half of the year, as well as the strong momentum in NGP, give us confidence in our ability to deliver full-year performance in line with our guidance.

References:

[1] HALF YEAR RESULTS STATEMENT

Also Read:

[1] Imperial Brands PLC Sees Surging Sales of NTPs in Italy, Accounting for Over 50% of Total Revenue

[2] Imperial Brands PLC Expects Increase in Profit Due to Disposable Sales Growth

[3] Imperials Brands Stocks Fall Due to UK E-cigarette Tax

[4] Analysis of Imperial Tobacco Stock: Good Rating, Neutral Outlook

#Europe #United Kingdom #Heated tobacco products #Major companies

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