Imperial Brands Sees Double-Digit Growth in Vapes

Tobacco giant Imperial Brands has reported a dip in revenue despite double-digit growth in its electronic cigarettes division and growth in its traditional tobacco division.

The company told markets this morning that net revenue from tobacco and “next-generation” products rose 4.6 percent in the year ended September 30.

Adjusted earnings per share rose 1.09 percent, while reported earnings per share rose 19.1 percent, media reports.

Overall revenue, which includes duties and peripheral products, fell by 0.2 percent to £32,411 million from £32,475 million in 2023.

Imperial said its revenue from these products grew 26 percent. However, Imperial’s next-generation revenue remains much lower than for tobacco, with the former representing only around eight percent of tobacco’s net revenue.

Chief executive Stefan Bomhard said that the tobacco markets remains strong. “In tobacco, investment in our brands and sales force initiatives have delivered aggregate market share gains across our five priority markets, while delivering strong pricing,” he said.