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Imperial results hurt by slow-down, investment
May 3, 2017 / 6:22 AM / 7 months ago

Imperial results hurt by slow-down, investment

LONDON, May 3 (Reuters) - British tobacco company Imperial Brands reported lower half-year revenue and profit on Wednesday, excluding a benefit from the weak pound, as it was hurt by an industry slowdown and an investment programme.

The maker of cigarette brands including Gauloises, Winston and Kool said it was on track to meet its full-year earnings expectations at constant exchange rates.

Imperial said net revenue in its tobacco business was 3.7 billion pounds ($4.8 bln), up 9.3 percent. However, excluding the impact of exchange rates, revenue fell 5.5 percent.

Total adjusted operating profit was 1.7 billion pounds, up 6.3 percent. Excluding the impact of exchange rates, it was down 7.6 percent. ($1 = 0.7756 pounds) (Reporting by Martinne Geller; Editing by Susan Fenton)

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