Imperial Tobacco in line with expectations
Imperial Tobacco Group said in Thursday that its overall performance for the year to 30 September was in line with its expectations. The group added that the integration of Altadis into the group was proceeding in line with its plans.
BAE posts rise in underlying profitThe tobacco firm said that it had reduced its net debt level to just under £12 billion as of 30 June thanks to the completion of a rights issue.
Gareth Davis, Chief Executive of Imperial Tobacco, said, "We delivered a number of good performances in the period increasing our share and volumes in many markets."
Davis continued, "The integration of Imperial Tobacco and Altadis is going well and the consultation process on our European restructuring proposals is progressing as expected. We remain committed to supporting employees affected by our integration
projects.
"Our operating environment remains challenging but our business fundamentals are strong and with our continued focus on profitability, cost reductions and driving distribution of the enlarged brand and product portfolio, we remain on track for another successful year."
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