Imperial Tobacco has posted a rise in cigarette volumes of almost 50% in its latest annual results following the acquisition of Franco-Spanish rival Altadis in January this year.
Volumes for the combined group were up by 46% over the 12 months to 30 September, from 200bn cigarettes to 292bn.
Total sales were up by 66% from £12.34bn in 2007 to a new high of £20.53bn, while adjusted pre-tax profits – taking into account the Altadis deal – were up by 30% to £1.6bn.
Chief executive Gareth Davis hailed the “very good progress” made in combining the business with Altadis.
“In a year of significant achievement we have completed the acquisition of Altadis and grown our cigarette volumes and shares in mature and emerging markets,” he said.
“Excellent results in Eastern Europe, Africa and the Middle East were complemented by further share gains in the European Union and rapid expansion in the US. Our international premium cigarette brands Davidoff and Gauloises Blondes are driving growth in emerging markets, while our strength in value brands and products has enabled us to capitalise on downtrading in mature markets – a trend [that] is likely to continue in the current environment.”