Economy

Imperial Brands dividend keeps on growing

Imperial Brands dividend keeps on growing”

The company, which owns the blu e-cigarette brand, said it will press ahead with new e-vapour launches in new and existing markets and consumer trials of "heated tobacco products" as it looks to cash in on "significant growth opportunities".

The tobacco company made a profit of 1.86 billion pounds ($2.44 billion) for its financial year ended September 30, up from GBP907 million the year before after benefiting from substantially lower finance costs.

Stripping out such costs, Imperial Brands' operating profit increased to GBP2.28 billion from GBP2.23 billion.

While tobacco net revenue grew 8.2 per cent on an adjusted basis as a result of favourable exchange rates to £7.8bn, it dropped 2.6 per cent in constant currency terms.

Imperial Brands, the maker of Davidoff and Gauloises cigarettes, Rizla rolling paper and e-cigarettes, has reported its ninth year of 10 per cent dividend growth.

Imperial said it would begin small-scale trials of products that heat, rather than burn, tobacco, dipping into a market where its larger rivals British American Tobacco, Philip Morris International and Japan Tobacco International already play.

"It's important to maintain optionality on both oral tobacco and heated tobacco products because there may inevitably be scenarios in which it makes sense to launch one or both, but our focus is on e-vapour", said Imperial Chief Development Officer Matthew Phillips. Imperial said today that it had a programme of new next generation products on the way and would be trialling other potential new products.

The company earned 267 pence per share.

In fiscal 2017, total tobacco volume fell 4.1% to 265.2 billion stick-equivalents-a measure of the amount of tobacco in a single cigarette.



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