Imperial Brands PLC (LSE: IMB)

Imperial Brands PLC (LSE: IMB) is an FTSE 100-listed British Multinational tobacco entity.

FY23 Trading Update (Released on 05 October 2023)

• Revenue: The company expects the FY23 revenue to be in line with the previously stated guidance and the growth rate observed in the top five priority markets. This was majorly driven by the increase in tobacco pricing which further assisted the constant currency net revenue and adjusted operating profit growth in FY23.
• Profitability: The company expects a foreign exchange tailwind of approx. 2% to act in support of the full-year net revenue and adjust profit for FY23. During the first half of FY23, specific regions such as the US, Spain, and Australia demonstrated growth which was partially offset by the decline in Germany and the UK during FY23.  
• Share Buyback and Capital Management: The company announced the share buyback plan of approx. GBP 1 bn,  from 6 October 2023 to September 2024. The management is pursuing the share buyback following its capital surplus program and to maintain the Net Debt to EBITDA at the lower end of 2.0x  to 2.5x.
• Outlook: The management is optimistic about delivering the total capital returns including the dividends paid and share buyback to cross GBP 2.4 bn in FY24.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Imperial Brands PLC (LSE: IMB) was trading at the closing market price of GBX 1,723.00 (as of 10 October 2023)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 10 October 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

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