UK: Imperial Tobacco records drop in annual revenue
Tobacco firm Imperial Tobacco has announced its preliminary results for the fiscal year ended 30 September 2014, posting a decline in total adjusted revenue of 6% to $6,576 million ($10,514 million). The company, however, pointed to “underlying volumes of Growth Brands up 7%, driven by organic growth and brand migrations” and “strong performance in Growth […]
USA: Tobacco industry set for shake-up with Lorillard acquistion
In a move that is set to shake-up the US tobacco market, Reynolds American Inc, the second-largest player in the country, has acquired the third largest, Lorillard Inc for $25 billion, or $27 billion including debt. Reynolds, which owns brands such as Camel and Pall Mall, will now get a stronger foothold in menthol cigarettes […]