Imperial Brands reported lower operating profit after accounting for its exit from Russia in response to the invasion of Ukraine.
Net sales rose 0.3% to £3.5bn in the six months to March 31 as demand for new products such as ecigarettes offset flat revenue from traditional cigarettes on a constant currency basis.
Imperial on Tuesday reported operating profit of £1.2bn, down 26%. The departure from Russia and associated markets cost £201m while there was also a non-recurrence of a £281m gain on the disposal of Imperial’s Premium Cigar Division £281m.
