Imperial Brands expects full year net revenue in line with guidance
Source - SMW
Imperial Brands said that it expects net revenue growth for the full year to be in line with its medium-term guidance, but warned that the first half will reflect some negative price or mix impacts in the UK and post excise increases in France.
Sterling strength is also expected to prove to be a headwind.
'The strengthening of sterling at current rates is expected to result in a currency translation headwind on net revenue and adjusted profit of about 3.5% at the half year and 2.5-3.0% at the full year,' Imperial brands said.
'We anticipate first half non-operating income to be matched at a similar level to last year,' the company said.
Imperial Brands said it continued to realise further share gains in its growth brands and in the majority of its priority markets, building on the success of last year's marketing investment programme as it seeks to ramp activity in next generation products (NGP), with multiple launches expected in the months to come.
'We are prioritising e-vapour growth by further developing blu, which is currently available in the USA, UK, Italy and France,' the company said.