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Imperial Tobacco sales growth in Emerging markets
After the advantageous settlement of several of outstanding issues with different tax agencies across the EU, the established duty rate for 2011 and following years is suggested to be nearly 24.5%. Moreover, according to the report, Imperial Tobacco is set to do a tax provision release of almost £200 million.
Imperial’s sales growth resulted from solid performances in emerging markets, such as African and Asian countries. Davidoff sales added more than 10%,[link widoczny dla zalogowanych], with very strong growth in Ukraine,[link widoczny dla zalogowanych], Saudi Arabia,[link widoczny dla zalogowanych], and Russia. West sales increased approximately 3% mainly due to growth in Russia and a several Eastern European markets.
In the USA, cigarette market volumes declined 4%, in line with the long term trend and ther group’s share was 3.9%.
In the Rest of the World market,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], sale volumes grew by 4% in the quarter, mainly thanks to the growth in the Middle East and Asia.
Imperial Tobacco’s CEO Alison Cooper stated that the company has made a good start in 2011,[link widoczny dla zalogowanych], as the key global brands added 7% with Gauloises Blondes,[link widoczny dla zalogowanych], Davidoff and West performing greatly, especially in emerging markets. The fine cut tobacco showing a strong performance in the EU region and cigar volumes as well going up in several emerging markets, and mainly in the Middle East.