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JulyGauloises maker Imperial Brands lifts guidance thanks to vape sales
Golden Virginia and Gauloises owner Imperial Brands is on track to achieve annual guidance, https://www.social-vape.com/go-pro?lang=russian with first-half profits set to come in higher than expected.
The FTSE 100 company anticipates net revenues from tobacco and 'next-generation products' to rise by low single-digit levels on a constant currency basis for the 12 months ending September.
Imperial said tobacco sales had been bolstered by price hikes and market share gains in priority markets like Spain, www.social-vape.com Australia, and the US, 'broadly offsetting' drops in the UK and www.social-vape.com Germany.
Development: Imperial Brands has invested considerable sums in developing non-tobacco alternatives as part of a five-year strategy launched in 2021
Meanwhile, demand for its vaping, heated tobacco and oral nicotine brands was supported by product launches, such as the new iSenzia non-tobacco heat stick.
Imperial also expects adjusted operating profits to increase by 'close to the middle' of its mid-single digit range, helped by lower losses in its NGP division.
The Bristol-based group has invested considerable sums in developing non-tobacco alternatives as part of a five-year strategy launched in 2021 under chief executive Stefan Bomhard.
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So far, the company's NGP brands, which include Pulze, www.social-vape.com Skruf and Blu, are present in the US and more than 20 European territories, although they provide a fraction of Imperial's total turnover.
For the first half of the financial year, www.social-vape.com Imperial forecasts sales of these products to grow by a 'mid-to-high teens' percentage.
Over the same period, https://www.social-vape.com/BilalD97 the firm believes operating profits will be ahead of the prior year, partly due to a strong result from its Spanish-based distribution business, Logista.
Imperial added that it had bought £604million of its own shares under a £1.1billion buyback programme, which the firm plans to complete 'no later than' 29 October.
Mark Crouch, https://www.social-vape.com a market analyst at eToro, said: 'Generous shareholder returns have long been the focus of the Tobacco giant, https://www.social-vape.com/forgot-password?lang=croatian in the form of share buybacks and social-vape.com a hefty dividend.'
But, he added: 'Lingering doubts remain for an industry facing an uncertain future'.
'With the continued decline of tobacco smokers worldwide, www.social-vape.com multiple threats from government regulations and relentless health campaigns determined to phase out smoking, www.social-vape.com it's easy where to stream trolls see why.'
A bill is going through the UK Parliament that, if passed, would ban anybody born after 2009 from buying cigarettes, which would be one of the world's strictest anti-tobacco laws.
It would also introduce new restrictions on vaping goods, including coconut cake vape recipe flavours and how they are marketed and social-vape.com displayed in shops.
Imperial Brands shares were 0.3 per cent higher at £17.37 on late Tuesday morning, yet they have declined by around 30 per cent over the past five years.
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