Imperial Tobacco Revenue Falls
Imperial Tobacco Group PLC, the world’s fourth-largest tobacco group by sales, Wednesday posted a fall in first-quarter revenue and volumes on tough comparisons, hit by a trade ban in Syria and de-stocking.
“Delivering the planned acceleration in our underlying sales momentum whilst continuing to realize cost and cash opportunities remain our priorities,” Chief Executive Alison Cooper said. The maker of Lambert & Butler, Gitanes Blondes and JPS cigarettes said tobacco revenue, excluding foreign exchange effects, fell 1% year-on-year in the three months to Dec. 31, while total volumes fell 7%. Ream more »
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