Imperial Tobacco announces annual results

Manufacturing News, Source : TheManufacturer.com
Published : 25 Nov 2002 11:36

Imperial said its future prospects had been transformed by its acquisition of Reemtsma as it announced record financial performance today.

Imperial announced "Another year of record financial performance" today with operating profit up 27% to £789m, including a £107m from Reemtsma contribution. The company said it had also extended its UK cigarette market share to 42.9%.

Gareth Davis, Chief Executive said: "The highlight of the year was undoubtedly the acquisition of Reemtsma, which was completed in May. This transforming acquisition considerably strengthens our international presence and provides excellent opportunities for further profitable growth."

There had also been strong contributions in Western Europe and Africa, where Tobaccor had proved to be a valuable addition to the Group, producing a double digit return in its first full year.

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