Imperial Brands Plc, the UK cigarette-maker that dropped the word tobacco from its name, reported a first-half profit that beat analysts’ estimates, as newly acquired brands in the US gained market share.
Adjusted operating profit from tobacco rose to £1.58 billion ($2.3 billion) in the six months through March, the maker of Davidoff cigarettes said in a recent statement. Analysts expected £1.53 billion.
‘‘We’re focused on maintaining momentum in the second half, and remain on track to meet full-year expectations,” chief executive officer Alison Cooper said in the statement.
Last year, Bristol, England-based Imperial paid £4.6 billion for US brands including Winston and Kool in a bid to gain a bigger foothold in the world’s second-biggest tobacco market.
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