Imperial Tobacco today said it will meet fiscal targets for the fiscal year ending 30 September, with net revenue expected to increase 2 per cent despite an equal percentage decline in stick equivalent volume.

The company also said in a statement that excluding the impact of price increases in Spain and delay in raising prices in the UK, tobacco net revenue is expected to increase 3 per cent and stick equivalent volume to decline by less than 1 per cent.
Cigarette prices in Spain reduced in May and June as a result of various brands being repositioned, significantly affecting market profitability.
Fiscal year results will be announced on 1 November. (ci)