Imperial Tobacco says annual profits jump 19.0%
Britain's Imperial Tobacco, maker of Lambert & Butler and Gauloises cigarettes, said on Tuesday that annual net profits soared by almost a fifth, boosted by emerging markets expansion and price hikes.
Earnings after tax rose by 19.0 percent to £1.79 billion ($2.9 billion, 2.0 billion euros) in the group's 2010/2011 financial year which ran to the end of September, Imperial said in a results statement.
That compared with £1.5 billion in the previous fiscal year. Revenues rose 3.7 percent to £29.223 billion in the latest reporting period.
"We mitigated the impact of difficult conditions in Spain with gains elsewhere in the EU and excellent growth in the emerging markets of eastern Europe, Africa and the Middle East and Asia Pacific," chief executive Alison Cooper said in a statement.
Imperial also produces cigarette brands Davidoff, Fortune, Gitanes, JPS, Rizla and West. It bought French-Spanish firm Altadis for about $19 billion in 2008.
© 2011 AFP