November 7, 2017 / 7:30 AM / a month ago

Imperial Brands' H2 sales improve, to expand vaping products

LONDON, Nov 7 (Reuters) - Imperial Brands reported full-year sales roughly in line with expectations on Tuesday, helped by an improvement in the second half, and announced it would expand its efforts in the vaping market.

Net revenue in the company’s tobacco business was 7.76 billion pounds ($10.2 billion), up 8.2 percent, in the year to 30 Sept. Excluding currency fluctuations, revenue fell 2.6 percent.

Adjusted operating profit was 3.8 billion pounds.

Analysts on average were expecting full-year revenue of 7.7 billion pounds and profit of 3.6 billion pounds.

The maker of Gauloises and Davidoff cigarettes also said it would expand its portfolio of “next generation products” and would test devices that heat tobacco without burning it. ($1 = 0.7605 pounds) (Reporting by Martinne Geller, editing by Louise Heavens)

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