Imperial Brands shares surge despite earnings slump

Imperial Brands shares surge despite seeing earnings slump following Russia exit as e-cigarettes boost Golden Virginia owner

  • Imperial Brands saw half-year earnings slumped by over £800m to £1.04bn
  • Reported revenue also declined modestly due to lower excise duty in Europe 
  • The company’s shares were the top riser on the FTSE 100 Index this morning

Imperial Brands profits have plunged after the cigarette-maker opted to exit the Russian market.

But Imperial Brands shares climbed 7.2 per cent to £18.36 in early trading as the owner of the Rizla and Golden Virginia…

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