Tobacco group Imperial Brands said today it was on track to meet its full-year organic profit growth forecast, encouraged by higher cigarette prices and lower losses in its next-generation products business.
Overall tobacco volumes were in line with its estimates and the company expects total group cigarette market share to grow by about 0.2 percentage points.
"The net effect of the Covid-19 travel restrictions and changes in consumer buying patterns has been a small mix benefit, although this is beginning to reduce as restrictions are lifted and is likely to unwind further in FY22," the Gauloises Blondes and West cigarettes maker said.
Imperial said it was on course to meet its low to mid-single digit organic adjusted operating profit growth, in constant currencies, forecast.
Group organic net revenue is expected to grow by around 1% for its full year ended September 30, on a constant currency basis, driven by continued strong pricing in tobacco.
