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Imperial Brands PLC said on Tuesday that it plans to report higher organic net sales and adjusted constant currency operating income for the first half of fiscal 2021, and reiterated its expectations for the full year.
Tobacco company FTSE 100 – which is home to the Davidoff, Gauloises and JPS cigarette brands as well as a number of steamed and heated tobacco products – said adjusted operating income for the six months ending 31 March is expected to rise at least halfway. – a single percentage digit at constant currency. Adjusted profit benefited from reduced losses on new generation products and increased logistics profit.
First half net sales are expected to grow by at least 1% on an organic basis at constant exchange rates. This is because tobacco prices continue to be high and some are benefiting from the revenue growth of next-generation products compared to a low comparative period a year earlier, Imperial Brands said.
The company said it continues to expect low to mid single-digit organic adjusted operating income growth at constant currency for fiscal 2021, reflecting increased investment. However, he cautioned against a currency impact of around 2% on full-year earnings per share.
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