BRISTOL (dpa-AFX) - British tobacco company Imperial Brands Plc (IMB.L, IMBBF.PK, IMBBY.PK) reported Tuesday that its fiscal 2023 profit before tax climbed to 3.11 billion pounds from last year's 2.55 billion pounds.
Earnings per share grew 52.1 percent to 252.4 pence from 165.9 pence a year ago.
Adjusted profit before tax was 3.48 billion pounds, up from 3.38 billion pounds last year. Adjusted earnings per share were 278.8 pence, up from 265.2 pence a year ago.
Reported operating profit grew 26.8 percent and Group adjusted operating profit grew 3.8 percent, driven by tobacco portfolio and Logista. Excluding Russia, Group adjusted operating profit grew 3.9 percent.
Total group revenue edged down 0.2 percent to 32.48 billion pounds from last year's 32.55 billion pounds, reflecting lower excise partially offset by higher Logista revenue.
Adjusted revenue was 8.01 billion pounds, up 2.8 percent from last year.
Tobacco volumes was down 10.4 percent driven by exit from Russia and weakness in US mass market cigars. Excluding Russia, tobacco volumes declined 7.1 percent.
Further, the company announced annual dividend per share growth of 4 percent to 146.82 pence per share, in line with progressive dividend policy
Looking ahead, Imperial Brands noted that in the coming year, it expects to deliver low-single-digit constant currency revenue growth and to grow constant currency adjusted operating profit close to the middle of its mid-single digit range.
Performance will be weighted to the second half of the year driven by the phasing of pricing in the prior year and investments in NGP. As a result, first-half operating profit is expected to grow at low single digits, at constant currency.
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