Imperial’s cigarette shipments decrease but fine-cut shipments up

According to preliminary results issued today, Imperial Tobacco’s cigarette volume during the 12 months to the end of September, at 292.5 billion, was down by 3.2 per cent on that of the 12 months to the end of September 2011.

Fine cut volume in stick equivalents was increased by 0.4 per cent to 44.1 billion, but total stick equivalent volume (cigarettes and fine-cut) was down by 2.7 per cent to 336.6 billion.

The company’s tobacco net revenue was up by one per cent to £7,005 million and its tobacco adjusted operating profit was increased by two per cent to £2,989 million.

Imperial’s logistics distribution fees were down by six per cent to £872 million and logistics adjusted operating profit was down by four per cent £176 million.

Group adjusted operating profit was increased by two per cent to £3,161 million, adjusted earnings per share were up by seven per cent to 201.0p and dividend per share was up by 11 per cent to 105.6p.

“We’re generating high quality growth by investing in total tobacco brands that will deliver long-term sustainable sales, said chief executive, Alison Cooper.

“Revenues were strong across the portfolio and I’m particularly pleased with the excellent performances from our key strategic brands Davidoff, Gauloises Blondes, West and JPS, with volumes up seven per cent and revenues growing 13 per cent.

“Our portfolio offers consumers unrivalled choice and provides significant opportunities for further growth.

“Our focus on realising this growth potential, whilst effectively managing cost and cash, will continue to maximise value for our shareholders.”