• November 16, 2024

Imperial sales see small decline

Imperial Tobacco Group reported a small decline in nine-month revenue on Aug. 18 and said it was on course to complete its acquisition of a pack of U.S. cigarette brands from Reynolds American and Lorillard, according to CBS News.

Imperial, maker of JPS and Gauloises, said sales fell 1 percent to GBP4.75 billion ($7.95 billion) in the nine months to June 30. It said its guidance of “modest” growth in adjusted earnings per share remained unchanged.

Imperial last month agreed to buy a number of cigarette brands including Winston, Kool and Salem from Reynolds and Lorillard for $7.1 billion as part of a planned $25 billion merger between the two U.S. companies. In a surprise move, the deal also included Blu e-cigarettes, the No. 1 selling brand in the U.S.

Added to its existing portfolio, the new brands would make Imperial the third-largest player in the U.S. tobacco market–if the deal is successful. Imperial said it expected to complete the transaction in 2015, without providing more specific details.

“I’m pleased with the continued improvement in the quality of our sales growth,” said Chief Executive Alison Cooper.

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