Consensus estimates

Consensus estimates presented here are based on earnings projections made by a number of research analysts who cover Imperial Brands. 

Disclaimer

The forecasts in consensus are based upon Visible Alpha*, an independent consensus service, from a number of registered investment analysts as at the date provided. As such, this is information that is available publicly. In addition to the up to 7 analysts within the Visible Alpha consensus, Imperial Brands adjusts to take account of a further 4 analysts that publish forecasts on Imperial Brands but which are not part of the Visible Alpha consensus. The consensus figures therefore represent the estimates of these analysts only (not necessarily being the same analysts that contributed to consensus figures for previous results) at the time of publication. Analyst estimates can change significantly from time to time. Any such changes in analysts’ estimates will not be reflected in the consensus figures published on Imperial Brands’ website until Imperial Brands invites sell-side analysts to submit their updated forecasts following the release of Imperial Brands' next results. Totals may not cast due to averaging and line by line analyst count. Consensus is calculated by taking the simple average of the constituent analyst forecasts.

Visible Alpha and investment analysts have had no access to Imperial Brands’ internal budgets, forecasts or information which is not generally available. Imperial Brands has not commented on individual forecasts nor does it intend to do so in the future. Imperial Brands assumes no obligation to update or revise such information and nothing in this analysis should be taken as a recommendation to buy or sell shares in Imperial Brands or to take any other action or place any reliance on the analysis.

By enabling publication of the consensus figures and referencing the same on its website, Imperial Brands does not imply that it endorses, confirms or expresses a view on the consensus figures. The consensus figures are provided for informational purposes only and are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. No warranty or representation, either express or implied, is made by Imperial Brands or its affiliates, or their respective directors, officers and employees, in relation to the accuracy, completeness or achievability of the consensus figures and, to the fullest extent permitted by law, no responsibility or liability is accepted by any of those persons in respect of those matters. Imperial Brands assumes no obligation to update, revise or supplement the consensus figures to reflect circumstances existing after the date hereof.

Imperial Brands does not accept any liability whatsoever for reliance upon, or actions taken based on, any of the information set out in these consensus figures. The consensus figures are forward-looking and as such are speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur). The consensus figures do not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Before making an investment decision, a prospective investor should consider its particular investment needs, objectives and financial circumstances, and should seek appropriate professional advice, tailored to the investor's circumstances. Any investment in securities is subject to investment risks.

For further information regarding consensus forecasts please contact the Imperial Brands Investor Relations team.

*Disclaimer:
THE INFORMATION PROVIDED BY VISIBLE ALPHA CITED HEREIN PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTY OF ANY KIND. USE OF ANY VISIBLE ALPHA DATA IS AT YOUR OWN RISK AND VISIBLE ALPHA DISCLAIMS ANY LIABILITY FOR USE OF THE VISIBLE ALPHA DATA. ALTHOUGH THE INFORMATION IS OBTAINED OR COMPILED FROM RELIABLE SOURCES VISIBLE ALPHA NEITHER CAN NOR DOES GUARANTEE OR MAKE ANY REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, AS TO THE ACCURACY, VALIDITY, SEQUENCE, TIMELINESS, COMPLETENESS OR CONTINUED AVAILABILITY OF ANY INFORMATION OR DATA, INCLUDING THIRD-PARTY CONTENT, MADE AVAILABLE HEREIN. IN NO EVENT SHALL VISIBLE ALPHA BE LIABLE FOR ANY DECISION MADE OR ACTION OR INACTION TAKEN IN RELIANCE ON ANY INFORMATION OR DATA, INCLUDING THIRD-PARTY CONTENT. VISIBLE ALPHA FURTHER EXPLICITLY DISCLAIMS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.