Imperial Tobacco says earnings in line with expectations
Britain's Imperial Tobacco, maker of Lambert & Butler and Gauloises cigarettes, said on Wednesday that it remained on track to meet full-year expectations, boosted by strong growth in emerging markets.
"Imperial Tobacco Group PLC confirms that the overall anticipated financial performance and position of the group for the financial year to 30 September 2011 remains in line with the board's expectations," said a trading update.
"We continue to focus on driving growth through our total tobacco portfolio in EU and non-EU markets."
The London-listed group also forecast that sales are expected to climb by about 2.0 percent this year.
"Tobacco net revenues are expected to be up around 2 percent with particularly strong performances in our Eastern Europe, Asia-Pacific and Rest of EU regions," it added. The group publishes its annual results on November 1.
In recent years, Imperial has switched its strategy away from developed regions and towards the world's major growth markets in eastern Europe, Africa, the Middle East and Asia.
Imperial also produces brands including Davidoff, Fortune, Gitanes, JPS, Rizla and West. It bought French-Spanish firm Altadis for about 19 billion dollars in 2008.
© 2011 AFP