Imperial Brands PLC Trading Statement (9605A)
March 30 2017 - 1:00AM
UK Regulatory
TIDMIMB
RNS Number : 9605A
Imperial Brands PLC
30 March 2017
IMPERIAL BRANDS PLC
Pre-Close Trading Update
30 March 2017
Imperial Brands PLC today issues the following trading update
ahead of its close period on 1 April 2017.
We confirm we are on track to meet earnings expectations for the
half year results at both constant currency and reported exchange
rates.
As we announced in November, we are driving an even sharper
focus behind our four strategic priorities to further strengthen
the business. To support this, we are investing an additional
GBP300m in 2017 behind our Growth and Specialist Brands and in key
markets to drive revenue growth over the medium-term. We have also
codified our Market Repeatable Model, a consistent 'go to market'
approach for winning in market, which is being embedded across our
footprint and determines our investment priorities. The early
results of our investment programme are encouraging, with improved
market share trends in many of our priority markets.
First half revenues and earnings per share are expected to be up
strongly at actual exchange rates, driven by the benefit of
currency translation. We expect a currency translation benefit on
net revenue and profit of about 13-14%, at current exchange
rates.
As expected, the phasing of the GBP300m increased investment is
biased to the first half, resulting in lower revenue and profit on
a constant currency basis, with a stronger second half performance.
First half revenues are driven primarily by a deterioration in
industry volumes following strong industry volumes last year, while
price/mix is flat on last year, as previously guided.
Our guidance for full year earnings is unchanged.
The half year results to 31 March 2017 will be announced on 3
May 2017.
ENDS
Investor Contacts Media Contacts
+44 (0)7970 +44 (0)7967
Peter Durman 328 903 Alex Parsons 467 241
+44 (0)117 +44 (0)7967
Matt Sharff 933 7396 Simon Evans 467 684
Cautionary Statement
Certain statements in this announcement constitute or may
constitute forward-looking statements. Any statement in this
announcement that is not a statement of historical fact including,
without limitation, those regarding the Company's future
expectations, operations, financial performance, financial
condition and business is or may be a forward-looking statement.
Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected or implied in any forward-looking statement.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
These and other factors could adversely affect the outcome and
financial effects of the plans and events described in this
announcement. As a result, you are cautioned not to place any
reliance on such forward-looking statements. The forward-looking
statements reflect knowledge and information available at the date
of this announcement and the Company undertakes no obligation to
update its view of such risks and uncertainties or to update the
forward-looking statements contained herein. Nothing in this
announcement should be construed as a profit forecast or profit
estimate and no statement in this announcement should be
interpreted to mean that the future earnings per share of the
Company for current or future financial years will necessarily
match or exceed the historical or published earnings per share of
the Company. This announcement has been prepared for, and only for
the members of the Company, as a body, and no other persons. The
Company, its Directors, employees, agents or advisers do not accept
or assume responsibility to any other person to whom this
announcement is shown or into whose hands it may come and any such
responsibility or liability is expressly disclaimed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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