Last year, Imperial Brands grew underlying Tobacco and Next Generation Product (NGP) revenue by 4.6% to £8.2bn. This was driven by 26% growth in NGP sales and strong pricing in tobacco which offsets a 4% decline in volumes.
Underlying operating profit grew by 4.6% to £3.9bn, in line with prior group guidance.
Free cash flow was flat at £2.4bn. Underlying net debt fell from £8.0bn to £7.7bn.
The annual dividend was raised by 4.5% to 153.42p per share. The ongoing £1.25bn buyback is expected to be largely completed during this financial year.
This year’s tobacco and NGP net revenue is expected to grow at a low single-digit pace. Underlying operating profit is expected to grow in the mid-single digits.
The shares were up 3.0% following the announcement.
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Imperial Brands key facts
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