Britain's Imperial Tobacco, the maker of Lambert & Butler and Gauloises cigarettes, said Thursday that it expected annual sales to grow this year, lifted by strong demand in emerging markets. "We are delivering strong gains from our key strategic brands and improving our revenue momentum through our focus on driving quality growth across our total tobacco portfolio," the group said in a trading update.
"Tobacco net revenues are expected to be up by around four percent with particularly good performances in our Eastern Europe, Africa and Middle East, and Asia-Pacific regions." However, total stick volumes, which combine cigarettes and fine-cut tobacco, were predicted to drop by three percent due to weakness in Ukraine and Poland and compliance with international trade sanctions against Syria.
Imperial Tobacco said it was making "excellent progress" with its key strategic brands Davidoff, Gauloises Blondes, West and JPS, and expected this to be reflected in further strong volume and revenue gains. The group added that its overall financial trading position and operational performance for the year, which runs until September 30, was in line with expectations. Annual results are due for publication on October 30. In recent years, Imperial Tobacco has switched its strategy away from developed regions and towards the world's major growth markets in Asia, Africa, eastern Europe and the Middle East.
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