Notas de prensa


Half Year Results for the 6 months ended 31 March 2012

Viernes, 01 Mayo 2009

Total Tobacco Portfolio Driving Sales Momentum

Sales Growth

  • Tobacco net revenue up 3.3 per cent; stick equivalent volumes down 4.1 per cent
  • Key strategic brand net revenue up 12 per cent; stick equivalent volumes up 5 per cent
  • Continued growth in luxury Cuban cigars and snus
  • Strong Q2 growth: tobacco net revenue up 8 per cent*; stick equivalent volumes down 1 per cent*

Ongoing Cost Optimisation

  • Tobacco adjusted operating margin at around 43 per cent
  • Disciplined investments supporting growth

Maximising Cash Returns

  • Interim dividend up 13 per cent
  • Ongoing increase in full year dividend payout ratio ahead of adjusted earnings per share growth
  • Annualised £500 million share buyback achieved and ongoing

* Second quarter performance against the same period last year


Highlights – adjusted basis1 6 months ended 31 March 2012 Change Change at constant currency3 6 months ended 31 March 2011
  1. Management believes that these non-GAAP measures provide a useful comparison of business performance and reflect the way in which the business is controlled. Definitions are included in our accounting policies within the notes to the financial statements. Reconciliations between adjusted and reported measures are also included in the relevant notes.
  2. Stick equivalent volumes reflect our combined cigarette and fine cut tobacco volumes. Our 2011 stick equivalent volumes have been restated due to a change to the conversion factors used to convert fine cut tobacco volumes into stick equivalent volumes, reflecting increasing consumption patterns of expanded tobacco products.
  3. To aid understanding of our performance, change at constant currency removes the effects of exchange rate movements on the translation of the results of our overseas operations. References in this document to percentage growth and increases or decreases in our adjusted results are on a constant currency basis unless stated otherwise.
Stick equivalents2 159.1bn -4.1%   165.9bn
Tobacco net revenue £3,388m +3.0% +3.3% £3,289m
Tobacco adjusted operating profit £1,456m +3.3% +3.3% £1,409m
Logistics distribution fees £439m -2.9% -1.8% £452m
Logistics adjusted operating profit £76m -5.0% -3.8% £80m
Total adjusted operating profit £1,524m +3.0% +3.0% £1,479m
Adjusted earnings per share 93.1p +5.3% +5.1% 88.4p
Interim dividend per share 31.7p +12.8%   28.1p

Alison Cooper, Chief Executive, said:

"Our focus on realising the potential of our total tobacco portfolio through our sales growth drivers has delivered a good first half performance, with strong second quarter results reflecting the sales momentum we’re generating.

"I’m pleased with the ongoing success of our key strategic brands Davidoff, Gauloises Blondes, West and JPS, as well as the recent cigarette and fine cut tobacco share progress we’ve made in both the EU and emerging markets.

"Disciplined investments are supporting our sales ambitions and we’ll continue to maximise the many growth opportunities that our unique portfolio offers to create further value for our shareholders."


Highlights – reported basis 6 months ended 31 March 2012 Change 6 months ended 31 March 2011
Revenue £13,962m +1.9% £13,701m
Operating profit £1,330m +4.4% £1,274m
Basic earnings per share 82.5p -9.6% 91.3p

Cautionary Statement

Certain statements in this announcement constitute or may constitute forward-looking statements. Any statement in this announcement that is not a statement of historical fact including, without limitation, those regarding the Company's future expectations, operations, financial performance, financial condition and business is or may be a forward-looking statement, particularly under Outlook, Outlook: Tobacco and Outlook: Logistics. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected or implied in any forward-looking statement. These risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions some of which are identified on pages 16 to 19 of our 2011 Annual Report and Accounts. These and other factors could adversely affect the outcome and financial effects of the plans and events described in this announcement. As a result, you are cautioned not to place any reliance on such forward-looking statements. The forward-looking statements reflect knowledge and information available at the date of this announcement and the Company undertakes no obligation to update its view of such risks and uncertainties or to update the forward-looking statements contained herein. Nothing in this announcement should be construed as a profit forecast.

Notes to Editors

Imperial Tobacco Group PLC is a multi-national tobacco company, with international strength in cigarettes and world leadership in fine cut tobacco, cigars, rolling papers and tubes. The Group has 50 manufacturing sites and around 38,000 employees and operates in over 160 markets.

Investor Contacts


Gerry Gallagher, Director of Investor Communications +44 (0)7813 917 339
John Nelson-Smith, Investor Relations Manager +44 (0)7919 391 866
Grant Edmunds, Investor Relations Manager +44 (0)7854 521 732

Media Contacts


Alex Parsons, Director of Corporate Communications +44 (0)7967 467 241
Simon Evans, Group Press Officer +44 (0)7967 467 684

A live webcast of a presentation for analysts and investors will be available on from 9.00am (BST). An archive of the webcast and the presentation script and slides will also be made available during the afternoon.

Interviews with Alison Cooper, Chief Executive and Bob Dyrbus, Finance Director, are available in video, audio and text formats at: and

Alison Cooper will host a media conference call at 7.30am (BST), at which there will be the opportunity for questions.

Dial in number: +44 (0)20 7136 2051
Access Code: 4184287

A replay of this call will be available for one week. To listen, please dial: +44 (0)20 7111 1244
Access code: 4184287


Contacto para medios de comunicación

Dirección de comunicación

Teléfono: +34 91 360 90 00



Altadis S.A.

  • Calle Comandante Azcárraga, 5
    28016 Madrid - España
  • Tel: +34 (0) 91 360 90 00

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Imperial Brands

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