New York, May 1 (FinanceEnquiry.com) – On Tuesday, Imperial Tobacco Group, Europe’s second-biggest and the world’s fourth-largest cigarette company, said that a higher sales volume coupled with increased price of cigarettes helped advance its first-half earnings.
In the six months ended March 31, the Bristol, England-based company’s pre-tax profit escalated to 1.11 billion pounds from prior year’s 943 million pounds, in line with analysts expectations. Total revenues increased 2 percent to 13.96 billion pounds. Meanwhile, an increase in taxation took its toll on EPS which fell from from 91.0 pence a year ago to 82.3 pence.
The company’s board also declared an interim dividend of 31.7 pence per share, a rise of 12.8 percent.
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Shares of the company grew more...