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Imperial Brands sticks to full-year forecast

LONDON (Reuters) – British tobacco company Imperial Brands stood by its full-year forecast on Wednesday after reporting higher half-year sales in line with analysts’ estimates, helped by growth in its e-cigarettes business.

The maker of Gauloises cigarettes said adjusted half-year net revenue rose 2.5 percent on a constant-currency basis to 3.66 billion pounds.

Adjusted earnings per share were 115.6 pence.

Analysts on average were expecting revenue of 3.66 billion and adjusted earnings per share of 112.9 pence, according to a company-supplied consensus.

The company said it was on track to deliver growth in revenue, adjusted earnings per share and cash conversion in line with full-year expectations. It expects revenue growth at or above the upper end of a 1 to 4 percent range.

Source – Reuters