Smoke signals boost Imps share price

March 29, 2012

Shares in Bristol-based Imperial Tobacco Group rose 46p or 1.8%  to £25.66 after it issued an upbeat first half trading update saying that its financial position and operating performance are in line with the board's expectations. 

It said: "Following a first quarter impacted by various external factors, we delivered strong revenue and profit growth in the second quarter, improving our revenue and profit momentum as we enter the second half."

Net tobacco net revenues are expected to increase by around 3% although stick equivalent volumes are expected to decline by around 4%.

The group added: "Our performance reflects continued success across our key strategic brands Davidoff, Gauloises Blondes, West and JPS and our luxury Cuban cigar portfolio, complemented by fine cut tobacco gains and further smokeless growth."
Imps will release its results for the half year ending March 31 on May 1.

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