Imperial Brands reported adjusted operating profit of 3.89 billion pounds ($4.78 billion) in the year ended September 30, up 3.9% from fiscal 2022, when it excludes the impact of foreign exchange fluctuations and Imperial's exit from Russia . Adjusted net income rose 1.4% to 8.01 billion pounds.
Imperial Brands CEO Stefan Bomhard expressed satisfaction with the results.
"Three years into Empire's transformation, our investments in consumer capabilities, changes to the way we work and a new performance culture are translating into stronger, more sustainable operating and financial results," he said in a statement.
“In combustible tobacco, improvements in brand equity and investments in the capabilities of our sales force have enabled our total market share to remain stable or grow for the third consecutive year in five key markets, which account for 70% of our operating profits. With this, At the same time, our strong pricing in all major markets offset structural volume declines."
“Across next-generation products, our challenger approach, combining partnership-based innovation with rigorous go-to-market, is delivering positive results. We now have products across all categories, including e-cigarettes, heated tobacco and oral nicotine. There is a credible proposition. Following recent new product launches, we now offer consumers potentially lower-harm options in more than 20 European markets and the United States. Increased investment in Europe drove accelerated net revenue growth."
“Underpinning this broad progress is our ongoing transformation, which includes establishing new innovation centers in Liverpool, Hamburg and Shenzhen, modernizing legacy systems and investing in improving the skills of our leaders.”
