By Razak Musah Baba

LONDON--Tobacco company Imperial Brands PLC (IMB.LN) Thursday maintained its fiscal 2017 earnings target and said it would invest an additional 300 million pounds ($374.1 million) in the current year.

For the first half ending March 31, the company expects revenue and earnings per share to be up strongly, reflecting gains currency from currency translation.

Imperial, which makes Gauloises cigarettes and Rizla rolling paper, said it expects a currency translation benefit on net revenue and profit of about 13% to 14%, at current exchange rates.

In November last year Imperial announced an investment plan to support medium-term revenue growth, which will be accompanied by the company targeting cost savings of 300 million pounds ($374.1 million) a year by 2020, at a cost of GBP750 million.

The company said Thursday it will invest an additional GBP300 million in 2017, adding that its guidance for full-year earnings is unchanged.

--Rory Gallivan contributed to this article

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

March 30, 2017 02:45 ET (06:45 GMT)

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