Tobacco giant
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The latter division, the firm said, which is made up of heated tobacco and vaping products, had benefitted from more focused investment.
Shareholders will receive a first half dividend of 42.12p, up from 41.70p last year.
The company, which makes Gauloises Blondes and Winston cigarettes, said it expected modest second half group, though it warned it was facing a £50m headwind due to a new Australian excise regime.
Chief executive
“In tobacco, we have put in place a clear market prioritisation to increase focus on our best opportunities for sustainable profit delivery.
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“We have begun to stabilise the aggregate market share performance across our top five priority markets reflecting the changes we have made to tighten performance management and the good underlying momentum established over the past year.
“This is an encouraging start and one that I look forward to building on over time as we begin to step up investment in new strategic initiatives.”
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© City AM, source