º£½ÇÊÓƵ

Tobacco giant Imperial Brands is “on track” to meet its full year targets after the company saw revenue rise in the first six months of the year.

The Bristol-headquartered business said revenue was at £15.5bn - up 3.5% for the first half of the year - in its half-year results announced on Tuesday.

The increase in net revenue was driven by tobacco growth of 3.2% and next generation products, such as vapes, being up by 16.0%.

The firm - the world's fourth-largest international cigarette company measured by market share - posted operating profit of £1,6bn, which it said was driven primarily by the proceeds it made from the sale of its Premium Cigar Division (£281m).

It said it had made a “good start” to the year but the pandemic was continuing to affect aspects of the business.

In the second half of the year, Imperial Brands said it expected tobacco profitability to “grow modestly” against the same period last year.

For its next generation products, the business said its investment approach would support market trials in heated tobacco and vapour, with second-half investment at a similar level to the first half.

Stefan Bomhard, Imperial Brands chief executive, said: "We have made a good start in implementing our new strategy to transform Imperial and remain on track to meet full year expectations.