Imperial Brands sticks to full-year guidance
March 30 Imperial Brands, the world's fourth-biggest tobacco company, stuck by its full-year guidance on Thursday as it said it would match first-half earnings expectations at constant currency and reported rates.
The maker of Winston, Gauloises and other cigarette brands said revenue and earnings per share were expected to be up strongly for the six months ending March 31, driven by the benefit of currency translation.
It anticipates a currency translation benefit on net revenue and profit of about 13 percent to 14 percent at current exchange rates.
However, Imperial Brands said it expected lower revenue and profit at constant currency rates, impacted by the phasing out of an 300 million pound investment plan.
First-half revenue at constant currencies was primarily driven down by a deterioration in industry volumes, as previously guided, Imperial Brands said. (Reporting by Esha Vaish in Bengaluru, editing by David Evans)