Our use of cookies

We use necessary cookies to make our site work. We’d also like to set optional analytics cookies to help us improve it. We won’t set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences.

For more detailed information about the cookies we use, see Privacy & Cookies

Analytics cookies

We’d like to set Google Analytics cookies to help us to improve our website by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone.


Back to all News

Interim Results for the year ended 31 March 2018


On Track to Deliver FY18

  • Marketing investment delivering further share growth in Growth Brands and priority markets
  • Total volumes continue to outperform industry; Growth Brand organic volumes up 1.6% and share up 100 bps
  • Significant progress in NGP: roll-out of myblu and proprietary innovation in vapour and heated tobacco
  • Adjusted results reflect difficult prior year trading environment; improving Q2 price/mix supports H2 growth
  • Reported operating profit includes the impact of the administration of the UK distributor Palmer & Harvey
  • Dividend growth of 10%, supported by cash conversion of 111%; expect 95% at FY
  • Strategic focus highlights capital reallocation opportunities, targeting proceeds of up to £2 billion