Imperial sees rise in earnings

Source: Stock Market Digital

Date :30/10/2007 11:28:16

Imperial Tobacco, the world's fourth-biggest cigarette firm, met forecasts with a 6.3 percent rise in annual earnings on Tuesday.

Bristol-based which makes Britain's two top-selling brands Lambert & Butler and Richmond said it earned $1.88 billion for the fiscal year that ended September 30.

Sales gained 5.7 per cent to $25.4 billion whilst cigarette volume rose seven per cent to 200 billion, boosted by a six-month contribution from the acquisition of Commonwealth Brands in the United States.

Returns

Imperial chief executive Gareth Davis says they had an excellent return on investment in the first six months from Commonwealth which is the fourth-largest cigarette producer in the United States.

The company also said it expects approval by the Spanish regulator CNMV soon for its $18.16 billion takeover of Spanish rival Altadis SA.

Chief Executive Gareth Davis said he expected the deal to be completed in January 2008.

October 30 2007

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