Imps' improvement is fired by cigars
Wednesday 25 July 2012
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.
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