Imperial Brands half-year tobacco operating profit increased more than 20 per cent as its expanded US presence contributed revenue and moderated a 3.1 per cent dip in volume, the company said.

“This was a strong first half performance, as we continued to deliver against our strategic agenda. Our quality of growth continues to improve and we achieved excellent results from ITG Brands,” said Chief Executive Officer Alison Cooper.
Although acquired US cigarette brands contributed 8.6 billion stick equivalents (SE), Mideast tensions continued to weigh on tobacco volume. Total volume in the six months to 31 March dropped 3.1 per cent to 133.9 billion SE. Operating profit increased 21.8 per cent to GBP 1.6 billion (EUR 2 billion) on sales of GBP 3.4 billion, a 15.4 per cent hike.