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16
2024
-
05
E-cigarettes, HNBs, and oral cigarettes all launch innovative products, and Imperial Brands is expected to meet earnings growth targets
In the first half of the year, Empire Brands launched innovative products in all three product categories: e-cigarettes, heated cigarettes, and nicotine pouches, including the blu brand of disposable e-cigarettes, iSenzia heated cigarettes, and the Zone line of nicotine pouch products.
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Imperial Brands recently said that the company is making good progress in implementing its five-year strategy for business transformation and is on track to successfully achieve its 2024 earnings growth target. On a constant currency basis, the company is expected to realize growth in net revenues from traditional and new tobacco products this year. In a press release, Imperial Brands said, "We have improved our ability to address macroeconomic challenges and will continue to invest to drive performance growth as well as drive transformation."
So far this year, Imperial Brands tobacco products net revenues have increased compared to the same period last year, supported by a stable pricing strategy and growth in its new tobacco products business. In combustible tobacco products, the company has strengthened its market position through focused investment in five priority markets, and they have grown market share in the U.S., Spain, and Australia, which has broadly offset declines in their German and U.K. market shares.
The company's new tobacco products are expected to see a 15% year-on-year increase in net revenues in the first half of the year as Imperial Brands continues to increase its innovation efforts. Imperial Brands currently operates in over 20 European countries and the US market. In the first half of this year, they launched innovative products in all three product categories: e-cigarettes, heated cigarettes, and nicotine pouches, including the blu brand of disposable e-cigarettes, iSenzia heated cigarettes, and the Zone line of nicotine pouch products. Imperial Brands expects its adjusted operating profit to increase year-on-year in the first half of this year, with their products performing well in the European and American markets.
As of March 31st, Imperial Brands had completed a £604 million share buyback and this year they plan to buy back £1.1 billion of shares, with the full buyback to be completed by October 29th.
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