Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.

Business News

Imps' improvement is fired by cigars

A surge in sales of Cuban cigars in China and other emerging markets has helped Imperial Tobacco report a 3 per cent rise in sales for the past nine months.

Imperial Tobacco yesterday highlighted the strength of its Cohiba and Montecristo distribution division, where smokes cost about £30 each. Emerging markets sales volumes of premium cigars soared 10 per cent, a stark counterpoint to global cigarette sales volumes, which were down 3 per cent.

Even in the developed world, luxury cigars seemed to retain their allure. Volume growth came in at 1 per cent globally. But Imps is focusing on its key cigarette brands – Davidoff, Gauloises Blondes, West and JPS – for most of its growth. Those saw revenues rise 13 per cent.

the group continued recovering from a weak final quarter in 2011.