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Tobacco companies say Brexit impact manageable

27 Jun 2016. Imperial Brands said it regretted the UK referendum that saw 51.9 per cent of the electorate vote to leave the EU, adding the tobacco company expected to be given ample time should the outcome require changes in its operations.

“We're disappointed with the outcome of the referendum, as we were backers of the Remain position. In spite of the uncertainties involved, a UK exit from the EU is a reality we have to work with. It's clear, however, that it will take considerable time for the UK government and the EU to work through the exit process, which gives us plenty of time to make any adjustments to the way we do business,” said Iain Watkins, spokesperson for Bristol-based Ímperial.

British American Tobacco, with headquarters in London, said the result is not a cause for concern. “We have always said we do not believe Brexit would have a significant impact on our business – our European subsidiaries are supplied by our factories in mainland Europe, and the UK is a small part of our overall EU business. For us, therefore, it’s business as usual,” a company spokesperson said.