for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Imperial Brands sees FY revenue flat, earnings down

LONDON, Oct 8 (Reuters) - British tobacco company Imperial Brands on Thursday forecast full-year net revenue to be broadly flat and in line with market estimates, as it works through the impact of the coronavirus pandemic.

The forecast is slightly above guidance provided at its half-year results, the maker of Gauloises and West cigarettes said in its first indication of performance under CEO Stefan Bomhard, who joined in July.

However, the company forecast earnings per share down around 6%, also in line with market expectations it said, due to increasing its provisions as a result of COVID-19-related uncertainties.

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up