Imperial Brands sticks by forecast, announces $1.3 billion share buyback
© Reuters. A woman poses with a cigarette in front of Imperial Brands logo in this illustration taken July 26, 2022. REUTERS/Dado Ruvic/Illustration -Imperial Brands said on Thursday trading for the year was in line with its expectations and reaffirmed its forecast, on the back of sustained demand, higher prices and strong adoption of tobacco alternatives such as e-cigarettes.
"This is particularly encouraging given the inclusion of the now suspended Russian operations in last year's comparators," Hargreaves Lansdown analyst Derren Nathan said.The maker of Winston cigarettes blu vapes said its net revenue growth for tobacco products improved in the second half of the year, as higher prices helped offset the relatively steeper decline in volume when compared with historic averages.firm were up 1.5% to 1,604.
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