Imperial Brands PLC Trading Statement (1456L)
September 29 2016 - 2:01AM
UK Regulatory
TIDMIMB
RNS Number : 1456L
Imperial Brands PLC
29 September 2016
IMPERIAL BRANDS PLC
PRE-CLOSE TRADING UPDATE
29 September 2016
Imperial Brands PLC today issues the following trading update
ahead of its close period on 1 October 2016.
We confirm we are on track to meet full year expectations at
both constant currency and reported exchange rates. We remain in a
strong position to generate further returns for shareholders, as we
continue to deliver against our strategic agenda.
At current exchange rates, we expect currency translation to
benefit full year earnings by c. 4-5%. The full year impact of
currency transaction on earnings remains at around 3% for the full
year.
We have delivered strong growth in reported tobacco net revenue
for the year driven by the US acquisition and the benefit of
currency translation. The full year trend for total tobacco volumes
and operating profit margin is broadly in line with the first half.
Our cost optimisation programme is on track to deliver the targeted
savings and cash conversion remains strong.
We have made excellent progress in the US with market share
gains in our focus brands, Winston and Kool. We have delivered a
strong performance in our Growth Markets as we continue to focus on
profitable share opportunities and to benefit from revenue growth
in Fontem Ventures. In Returns Markets, our priority has remained
on managing share and profit; the benefit from price increases has
been offset by a combination of adverse mix, particularly in the
UK, EUTPD investment and the conclusion of distribution for Philip
Morris International in the UK and Morocco.
The preliminary results for the financial year ended 30
September 2016 will be announced on 8 November 2016.
ENDS
Investor Contacts Media Contacts
+44 (0)7970 +44 (0)7967
Peter Durman 328 903 Alex Parsons 467 241
+44 (0)117 +44 (0)7967
Matt Sharff 933 7396 Simon Evans 467 684
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.
Such 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.
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 or profit
estimate and no statement in this announcement should be
interpreted to mean that the future earnings per share of the
Company for current or future financial years will necessarily
match or exceed the historical or published earnings per share of
the Company. This announcement has been prepared for, and only for
the members of the Company, as a body, and no other persons. The
Company, its Directors, employees, agents or advisers do not accept
or assume responsibility to any other person to whom this
announcement is shown or into whose hands it may come and any such
responsibility or liability is expressly disclaimed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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