Encouraging half-year results have breathed new life into the turnaround of Imperial Brands, lifting shares to their highest since the pandemic struck.
The tobacco company, which produces the Winston and Davidoff brands, said that it had increased market share in its core five markets, which include the UK and account for about 70 per cent of its profits.
Group adjusted revenue rose 0.3 per cent to almost £3.5 billion in the six months to the end of March and adjusted operating profit was 2.9 per cent higher at £1.6 billion.
Imperial is 18 months into a five-year strategy under Stefan Bomhard, its chief executive, which in addition to reviving its core tobacco business, involves taking a “more disciplined” investment approach in its smaller e-cigarettes and
