BRISTOL (dpa-AFX) - British tobacco major Imperial Brands plc. (IMB.L, IMBBF.PK, IMBBY.PK) reported Tuesday that its fiscal 2021 profit before tax increased to 3.24 billion pounds from last year's 2.17 billion pounds.
Basic earnings per share climbed 89.5 percent to 299.9 pence from 158.3 pence a year ago.
Adjusted pre-tax profit was 3.17 billion pounds, compared to 3.14 billion pounds last year. Adjusted earnings per share were 247.1 pence, compared to 254.4 pence a year ago.
Operating profit grew 15.2 percent, and organic adjusted Group operating profit went up 4.8 percent driven by reduced NGP losses and higher Distribution profit.
Revenue edged up 0.7 percent to 32.79 billion pounds from 32.56 billion pounds a year ago, amid increases in excise duty.
On an organic adjusted basis, excluding the contribution of the Premium Cigar Division, which was divested in October 2020, revenues grew 1.4 percent driven by tobacco growth of 1.5 percent.
Looking ahead, the company said it remains on track to deliver the five-year plan set out in January 2021.
For fiscal 2022, the company expects to deliver net revenue growth at a similar rate to FY21 at constant exchange rates. Adjusted operating profit is expected to grow slightly slower than net revenue, reflecting the step up in investment in line with five-year strategic plan.
The company expects performance to be weighted to the second half reflecting the phasing of investment and the prior year comparator.
Copyright RTT News/dpa-AFX