Imperial Tobacco Gives Quarterly Update
Imperial Tobacco has given its latest quarterly update, which has revealed that smokers living in countries under the burden of debt are more inclined towards fake and smuggled cigarettes.
It has been told that roll-your-own cigarettes are also being sold more in these nations of southern Europe.
The volumes have been noted to have decreased by 7% this time in the nine months ended June. The same is greater than the 6% noted last year at the same time.
But, according to JPS, West and Lambert & Butler cigarettes' maker and the manufacturers of Golden Virginia and Drum rolling tobacco, the fall was still not worse.
In fact, Imperial Tobacco had moved to the FTSE 100 leader board's top as it reported an increase of 55p to 2,209p. The report found that some of the investors actually concerned a profits warning.
Alison Cooper, the company's chief executive, affirmed that opportunities for the total EU tobacco portfolio were continually maximized by them against a weak industry volume milieu. Also, they were attracting in -market performances in the Middle East, Asia-Pacific and Africa.
"While opportunities to grow sales in the short term are being impacted by the environment challenges, we remain focused on generating high-quality returns and sustainable growth from our portfolio", stated Ms. Cooper.
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