British tobacco company Imperial Brands, owner of brands such as Winston, Nobel and Rizla, obtained an attributable net profit of 1.57 billion pounds (1.8 billion euros) for its fiscal year ended in September, a drop of 44.6 percent compared to the previous year, according to the accounts published Tuesday by the company.
Imperial Brands’ turnover was 32,551 million (37,308 million euros), down 0.7 percent. Excise duties on tobacco sales accounted for an outlay of 15,644 million pounds (17,930 million euros), while other costs associated with sales grew by 3.2 percent more.
The company reported that part of its net result was affected by an extraordinary accounting charge of 399 million pounds (457 million euros) as a result of its decision to leave the Russian market after the invasion of Ukraine.
Imperial Brands’ selling, distribution and advertising expenses were 2,021 million pounds (2,316 million euros), up 4.6 percent, while administrative expenses were 1,334 million (1,529 million euros), up 74.8 percent.
The company’s net debt closed the year at 8,492 million pounds sterling (9,733 million euros), a 9.4 percent decrease. The company has also indicated that the dividend to be distributed for the year as a whole will be 1.42 pounds (1.63 euros) per share, up 1.5 percent.
