Imperial Brands Anticipates Profit Growth and Announces £1.1 Billion Share Buyback

Imperial Brands, a prominent player in the tobacco industry, has outlined its financial expectations for fiscal 2023. The company, which owns well-known brands like Davidoff, Gauloises, and JPS, anticipates low-single-digit growth in net revenue from both traditional tobacco and next-generation products, bolstered by strong pricing strategies.

Additionally, Imperial Brands forecasts growth in adjusted operating profit. The company has announced a £1.1 billion share buyback program for fiscal 2024, representing a 10% increase compared to the previous year’s buyback effort. This program is set to commence on Friday and is expected to be completed by September 2024.

The decision to initiate the share buyback is attributed to a rise in net revenue and solid sales of next-generation products in Europe. Overall, Imperial Brands expects total capital returns to exceed £2.4 billion, which includes both dividends and buybacks.

This article was generated with the support of AI and reviewed by an editor.