Imperial Tobacco says trade in line with expectations
Britain's Imperial Tobacco, maker of Lambert & Butler and Gauloises cigarettes, said Wednesday that trading was in line with expectations this year, despite challenging conditions in some markets.
"Imperial Tobacco Group Plc confirms that the anticipated financial performance and position of the group for the financial year to 30 September 2010 remains in line with the board's expectations," it said in a statement.
"Tobacco net revenues are expected to be up around three percent in the year," the company added.
New chief executive Alison Cooper, who replaced Gareth Davis earlier this year, said she was pleased with the performance.
"We continue to drive shareholder returns through our enhanced focus on sales, ongoing cost optimisation and the effective use of our cash and I am pleased with our financial delivery given the challenging environment in a number of markets this year," Cooper said.
"We remain focused on developing our brand and product portfolio across our regions, responding to consumer shifts within our cigarette and other tobacco product portfolio, to maximise our sales potential," added Cooper, who was formerly chief operating officer.
Imperial Tobacco, which bought French-Spanish firm Altadis for about 19 billion dollars in 2008, will publish its annual results on November 2.
The group also produces brands that include Davidoff, Fortune, Gitanes, JPS, Rizla and West.
© 2010 AFP