Imperial’s fine-cut sales up nine per cent
Imperial Tobacco’s fine-cut sales in the course of October, November and December 2012 increased by strong growth in make-your-own tobacco sales in Western and Central Europe, were 9% higher than those of October, November and December 2011.
However, Imperial’s overall stick equivalent volumes (cigarettes and fine-cut) decreased by 1%, as outlined by an interim management statement released ahead of yearly general meeting.
Premium cigar volumes raised by 3% on the back of the success of Montecristo mini cigars, which were launched in 2012.
And Scandinavian snus sales elevated by 33%.
Imperial said that its EU performance was influenced by further declines in the size of the licit market and the climb of the illicit trade, in what remained a competitive and tough economic environment.
But in Australia, where all tobacco products have been marketed in plain packaging since December 1, there had been no considerable modification in consumption trends and Imperial said it was continuing to create strategic projects that would uphold the long-term growth of its portfolio.
Imperial said it was guaranteed in its strategic emphasis and was continuing to improve investment behind its ‘major total tobacco assets and geographies’.
‘Given Imperial’s ongoing investment and the European market pressures the company expect first half adjusted operating revenue to be decreased every year, ’ it added.
‘Imperial’s full year outcomes remain in accordance with our expectations, showing the advantages from an acceleration of a cost optimization programme intended to fund its continued investments and offset the current European market difficulties; the company expect that about 55% of adjusted operating income will be provided in the second half.’
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