Imperial volumes down in first quarter

Imperial Tobacco’s tobacco-products volume during the three months to the end of December (Imperial’s Q1), at 71.8 billion, was down by four percent on that of the three months to the end of December 2013, according to an interim management statement issued this morning.

But Growth Brand volume was increased by 11 percent to 35.4 billion

Tobacco products here include cigarettes, and fine-cut tobacco, cigars and snus calculated as cigarette stick equivalents.

Tobacco net revenue, meanwhile, was down by one percent to £1,486 million.

“We’ve continued to make good progress against our strategic agenda in the quarter and confirm our outlook for FY15,” said chief executive Alison Cooper in announcing the results.

“We delivered another strong performance from our Growth Brands with volume and net revenue up 11 percent and 15 percent respectively, supported by the on-going success of our brand migration program.

“We continue to focus on our priorities for success in our Growth and Returns Markets and are well advanced with our US integration plans. The US deal received overwhelming support from our shareholders and will further strengthen our platform for growth.”