Imperial Brands Sees Fiscal Year 2020 Net Revenue Broadly Flat Despite Coronavirus
08 Octubre 2020 - 1:48AM
Noticias Dow Jones
By Joe Hoppe
Imperial Brands PLC said Thursday that it expects group net
revenue to be broadly flat in fiscal 2020, slightly ahead of
previous guidance, despite a disrupted environment due to the
coronavirus.
The tobacco company, which houses Davidoff, Gauloises and JPS
among its brands, said it expects to report that revenue from its
tobacco business rose by 1% at constant currency rates in the year
ended Sept. 30.
Trading in its Next Generation Product business, however, was
disappointing, though in line with revised expectations, and is
expected to deliver revenue 30% lower than the year before.
Earnings per share are also expected to fall 6% at constant
currencies.
The company said that in Europe and the U.S., it has experienced
better-than-expected and overall increased demand for tobacco
despite the coronavirus, offsetting weaker volumes in the duty-free
and summer destination channels.
Imperial said its cash generation will beat its original
expectations driven by a continued focus on cash management, its
lower capital expenditure, charge timings and restructuring delays
due to the coronavirus.
The sale of its premium cigar business for 1.22 billion euros
($1.44 billion) is still on track for Oct. 29, Imperial added.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
October 08, 2020 02:33 ET (06:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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