LONDON, July 24 Sales growth gathered pace at
Imperial Tobacco with 9-month revenue up 3 percent at
the world's No 4 cigarette group as it gained from the ending of
a price war in Spain and put many of its other 2011 problems
The British group, which sells over 340 billion cigarettes
annually of brands such as Gauloises, West and JPS, said on
Tuesday its volumes for the nine months to end-June fell three
percent, so it relied on price rises for its sales growth.
The Bristol-based company has aimed to counter the downturn
in Europe by offering cheaper cigarettes and roll-your-own
tobacco products for many smokers, and also raise the price of
brands for more affluent consumers.
The group saw a return to sales growth in the first three
months of 2012 to offset a fall in the last quarter of 2011 when
Spanish woes, destocking in the United States and Ukraine and
United Nations sanctions on Syria hit group revenues.