Growth in Imperial Tobacco’s key brands contrasted with lower overall shipping volume, sales and profit, the company said in its half-year statement.

Ongoing economic problems in some European Union countries, notably Spain, an increase in excise taxes in Russia and shift to a new pricing strategy in the US contributed to the downturn. Growth was good in the Asia-Pacific region, Africa and the Mideast, Imperial said.
Volume measured in stick equivalents fell 5.9 per cent to 149.7 billion units and adjusted operating profit from tobacco sales fell 5.2 per cent to GBP 1.36 billion (EUR 1.61 billion), Imperial said. Constant currency sales in the six months ended 31 March fell 2 per cent to GBP 3.28 billion.
Key brand sales of Davidoff, Gauloises Blondes, West and JPS rose 5 per cent and volume by 1 per cent, the company said. Fine cut tobacco sales gained 10 per cent on volume that rose 9 per cent. Snus revenue rose 31 per cent to on volume that gained 30 per cent, with market share growth in the snus markets of Sweden and Norway.
“Our key strategic brands account for 32 per cent of our total volumes, around 100 billion stick equivalents on an annual basis, and we’re focused on growing this further”, Imperial said. (ci)