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Imperial Brands PLC (ITB.BE)
- PA Media: Money
Imperial Brands shares lift after tobacco price increases
The firm’s chief executive said it reported the ‘strongest organic top-line growth in more than ten years’.
- Yahoo Finance UK
Trending tickers: Burberry, Imperial Brands, Boeing and Oracle
The latest investor updates on stocks that are trending on Wednesday.
- Reuters
Imperial Brands' profit lifted by price hikes, demand for tobacco alternatives
The U.S. is planning a ban on menthol cigarettes after decades of backlash from anti-smoking groups, while British Prime Minister Rishi Sunak is also planning to ban anyone aged 15 and under from buying cigarettes. After years of slow growth and losses in market share, Imperial outlined a turnaround plan in 2021 focusing on its five top markets and beefing up investments in next-generation products (NGP), which were deemed less harmful to health. The maker of Winston cigarettes and Backwoods cigars has also been able to offset volume declines in cigarettes via price hikes.
