Imperial Brands has released its full year report for 2020. Imperial Brands’ year ended on Sept. 30, 2020. Financially, Imperial Brands reported a 0.8 percent rise in group net revenue while tobacco volume saw a decline of 2.1 percent, reflecting better market size and share trends in several markets.
Imperial Brands’ tobacco net revenue was up 1.8 percent but the company saw a weaker mix that impacted its gross profit contribution. Adjusted EPS was down by 5.6 percent as well, reflecting reduced tobacco profit attributed to COVID-19 and regulatory costs. Imperial Brands emphasized how despite the challenges brought on by COVID-19, the company was able to ensure the safety and wellbeing of its employees and adapt to changes seen in consumer behavior. Also, the completed sell of Imperial Brands’ premium cigar business on Oct. 29, 2020 would help the company reduce debt to help its overall business [read more here].