(Reuters) - British tobacco company Imperial Brands Plc on Monday launched plans to buy back shares worth up to £200 million and said it would revise its dividend policy from the next year.
The company reaffirmed a 10% increase in final dividend for the current financial year and said its dividend policy would be more progressive going ahead and payouts would grow annually from the next year, taking into account the company’s underlying performance.
The maker of Davidoff, Parker & Simpson and Gauloises Blondes cigarettes is looking to invest more in its vaping products such as blu e-cigarettes and other growth areas as sales of traditional cigarettes fall.
The company’s shares, which have tumbled more than 17% so far this year, were expected to rise as much as 4%, according to premarket indicators.
Imperial also said plans to sell its global premium cigar business in a bid to shed assets worth 2 billion pounds by May 2020 was on track.
The company said the revised capital allocation policy will allow investment in both organic growth and M&A opportunities in tobacco and next generation products.
“Given IMB’s valuation, we do not believe the market was rewarding its current div policy and view the change as an opportunistic opportunity to reduce leverage and buy back shares at depressed levels,” Credit Suisse analysts said.
Imperial also looks to deliver net debt to core earnings ratio of 2-2.5 times.
The company reported weaker-than-expected sales of its e-cigarettes in May, citing a slowdown in the United States.
Otra más q asoma la patita … Ya tuvo algún gesto fichando al CEO de una de las q investigaba los usos medicinales de la Marihuana y ahora explora un poco más el sector. El movimiento, en principio parece poca cosa, pero es un signo más de q dirección es la q parece ha decidido “Big Tobacco” de cara a conquistar nuevos tiempos de gloria.
Imperial Brands PLC today announces that, in light of a challenging NGP market in the USA and changes to our results expectations in the Africa, Asia and Australasia (AAA) division, Group net revenue for the year to 30 September 2019 is now expected to grow at around 2%, with EPS expected to be broadly flat at constant currencies.
Del artículo de Cinco Días
Imperial Brands, tabacalera británica a la que pertenece la española Altadis, ha caído por encima del 10% en la Bolsa de Londres este jueves, la mayor caída en un día desde 2008, tras anunciar que en los últimos doce meses no obtuvo beneficios.
Llevo todo el dia leyendo los titulares del profit warning por el vapeo y no es asi. El vapeo puede hacer que las ventas no suban tanto como habian estimado pero el vapeo para IMB sigue siendo algo minoritario que no da beneficios. El no aumento de beneficios viene por Australia donde tienen bastante cuota para su tamaño y donde dicen que han cambiado su politica para ganar mas cuota, supongo que a costa de rentabilidad, y por lo que no cumpliran beneficios.
Cuando presenten las cuentas lo podremos ver mas claramente.
No sé… llevo rondando a esta ya unos meses y yo sigo mosca con lo del aumento de inventario que asocio a que han invertido un mogollón de pasta en algo que no acaba de funcionar.
Para mi la clave es esto: “This has prompted a marked slowdown in the growth of the vapour category in recent weeks, with an increasing number of wholesalers and retailers not ordering or not allowing promotion of vaping products.”
En tabaco igual que dicen que AAA va mal dicen que Europa y América lo compensan.
A ver, no tener beneficios es una cosa, y que los beneficios se queden planos es otra. Una cosa es sacar un zero patatero de beneficios y la otra mantenerse. El artículo de prensa entiendo que está mal
