Imperial Brands announces strong results for ‘building foundations for future growth’
Tobacco giant Imperial Brands announces “important progress and significant change” with full year results.
For the year to 30 September 2021, the company reported turnover of £32.79bn compared to £32.56bn the prior period.
Pre-tax profits were also up from £2.16bn to £3.2bn.
The results coincide with the group implementing a new five-year strategy, which it is on track to complete.
Chief executive Stefan Bomhard added: “This has been a year of important progress and significant change, as we begin to deliver on the new, focused strategy we announced in January 2021.
“We have substantially refreshed our leadership team, making new hires to strengthen our consumer-facing capabilities, while building on our existing deep tobacco experience.
“Our five-year plan to transform Imperial is divided into two distinct periods. The year ahead will complete the two-year strengthening phase, with further investment in our five priority markets and NGP pilots, the embedding of new ways of working and cost-saving initiatives.
“This period builds the foundations for the subsequent three-year phase, which focuses on the acceleration of returns and sustainable growth in shareholder value.”