Volume at Imperial Tobacco declined in the last three months of 2011 due to international sanctions against Syria, price hikes in the US, destocking in the Ukraine and ongoing low demand in Spain, the company said.

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)