Imperial back to sales growth
Wednesday 02 May 2012
Smokers staying loyal to their favourite brands despite price hikes and an increase in Chinese demand for cigars helped Imperial Tobacco post a surprise jump in revenues yesterday.
The maker of Lambert & Butler cigarettes saw a return to sales growth in the first three months of 2012 with revenues up 8 per cent. That saw its total revenues for the half year to April rise 3.3 per cent to £3.4bn. Its chief executive, Alison Cooper, said revenues at Imperial's biggest brands grew 12 per cent, while Cuban cigar sales rose 8 per cent, fuelled by growth in China, Russia and the Middle East.
Imperial, which sells more than 340 billion cigarettes a year, also benefited from the end of a price war in Spain.
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