TOBACCO giant
For the year to
Pre-tax profits were also up from £2.16bn to £3.2bn.
The report highlighted a particularly strong performance in
The results coincide with the group implementing a new five-year strategy, which it is on track to complete.
Chief executive
The five-year plan for the group is to divide Imperial into two distinct periods. The year ahead will complete the twoyear "strengthening phase", with further investment into five priority markets and Next Generation Products (NGP) pilots. NGPs include products such as vapour, oral nicotine and heated tobacco, which aim to cause less harm to its users.
The focus for the next three years will then be to focus on "the acceleration of returns and sustainable growth in shareholder value", according to Bomhard.
Analysts at JP Morgan are relatively confident in Bomhard's direction, and said his recent and external leadership "provides free optionality should he show competency and his new perspective can begin to re-build investor confidence". Analysts therefore set a price target of 2100p, with an end date of
This confidence is echoed by
Despite optimism, shares were down nearly two per cent at the close yesterday at 1569p.
(c) 2021 City A.M., source