Stick-equivalent volume fell 7 per cent and net sales by 1 per cent, Imperial said in a statement. Stripped of the effects listed above, underlying stick-equivalent volume was down 1 per cent and revenue up 3 per cent, the tobacco company said. Stick-equivalent volume combines cigarette and fine-cut tobacco shipments.
“Combined stick-equivalent volumes of our key strategic brands Davidoff, GauloisesBlondes, West and JPS were up 3 per cent and (strategic brand) net revenues up 10 per cent,” Chief Executive Alison Cooper said in remarks for delivery to the annual general meeting on 1 Feb.
Imperial said Mark Williamson has been named senior independent director and Malcolm Wyman as chairman of the Audit Committee. Effective 2 Feb, David Haines, chief executive of the bathroom fixtures maker Grohe, joins as a non-executive director.
As previously announced, Pierre Jungels retired as a non-executive director at the conclusion of the annual general meeting. (ci) | 
