Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Imperial Tobacco Forecasts Increased Revenue on Eastern Europe

Sept. 21 (Bloomberg) -- Imperial Tobacco Group Plc, the maker of West and Davidoff cigarettes, forecast higher full-year sales, led by growth in eastern Europe and Asia.

Net revenue from tobacco will probably increase 2 percent excluding currency shifts in the 12 months through September, the Bristol, England-based company said today in a statement. That matched the median of three estimates in a Bloomberg News survey. Results will be “in line” with the company’s expectations, the Davidoff maker said.

Imperial Tobacco is looking to emerging markets such as eastern Europe to offset declining consumption in Spain and North America. The company said in July that lower cigarette prices in Spain would cut operating profit this year by as much as 70 million pounds ($110 million), below a previous forecast of 100 million pounds.

The total volume of tobacco sold by the producer will probably decrease 2 percent in the 12 month period, Europe’s second-biggest tobacco company said. Imperial Tobacco is scheduled to report full-year results on Nov 1.

Imperial Tobacco said recent price increases in Spain will help business in that market.

To contact the reporter on this story: Dermot Doherty in Geneva at ddoherty9@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.