Future Of British Business
Winston Maker Imperial Brands Forecasts Weak First-Half Growth
- First half will be weaker before a recovery, tobacco firm says
- Company expects Q2 rebound in sales of alternative products
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Imperial Brands Plc said profit growth will be weaker in the first half as it slows the pace of price increases on cigarettes and invests further in smoking alternatives.
The maker of Winston and Gauloises cigarettes, which is at the midpoint of a five-year turnaround plan, forecast operating profit to grow by a low single-digit percentage in the first half before picking up later in the year as sales of alternative smoking products rise.