Imperial Brands rises as FY25 guidance reaffirmed, £1.45B buyback announced

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Imperial Brands (OTCQX:IMBBY [https://seekingalpha.com/symbol/IMBBY]) on Tuesday announced an additional 1.45 billion pound ($1.95 billion) share buyback plan and said it was on track to meet its annual targets, sending the stock higher in London trading.

At constant currency, Imperial Brands (OTCQX:IMBBY [https://seekingalpha.com/symbol/IMBBY]) said it was on track to deliver low single-digit tobacco and next-generation products (NGP) net revenue growth for FY25, with group adjusted operating profit growth at a similar rate to last year, in line with guidance. NGP losses are expected to be broadly flat year on year.

Constant currency tobacco and NGP net revenue growth is underpinned by strong combustible pricing and further double-digit growth in the NGP business, the company said.

"We expect market share gains in the US, Germany, and Australia to broadly offset declines in Spain and the UK," Imperial Brands (OTCQX:IMBBY [https://seekingalpha.com/symbol/IMBBY]) said in a statement, as it expects to deliver high single-digit constant currency adjusted earnings per share growth for the full year.

"This is supported by the growth in adjusted operating profit and the ongoing share buyback program, partly offset by higher adjusted finance and tax costs as well as increased minority interests, given strong growth in some of our African markets," the British manufacturer of tobacco products added.

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* Imperial Brands: A Great Dividend Generator At Fair Value [https://seekingalpha.com/article/4817054-imperial-brands-stock-great-dividend-generator-at-fair-value]
* Tobacco heat check: Philip Morris, Imperial Brands, and BAT land bull ratings at Jefferies [https://seekingalpha.com/news/4466134-tobacco-heat-check-philip-morris-imperial-brands-and-bat-land-bull-ratings-at-jefferies]
* Seeking Alpha’s Quant Rating on Imperial Brands PLC [https://seekingalpha.com/symbol/IMBBY/ratings/quant-ratings]
* Historical earnings data for Imperial Brands PLC [https://seekingalpha.com/symbol/IMBBY/earnings]