Growth in emerging markets and improved sales of rolling tobacco continued to prop up Imperial Tobacco’s sales over the year to date.
Cigarette volumes for the Lambert & Butler maker were down 3% in the nine months to 30 June. But rolling tobacco volumes grew by 4% over the same period, contributing to a rise in revenues of 2%.
The company said its exposure in Spain, where a price war has broken out, continued to compromise its overall performance.
"We grew volumes of our global strategic cigarette brands Davidoff, Gauloises Blondes and West with good performances in emerging markets and we also achieved further excellent progress with JPS,” said chief executive Alison Cooper.
“We are well placed to build on our sales growth momentum in the remainder of the year, supported by our ongoing focus on costs and effectively using our cash.”
Tobacco research by ASH board member has Imperial fuming (2 July 2011)
Pain in Spain for Imperial Tobacco as price war bites (14 June 2011)