Tobacco giant Imperial Brands has reported a sharp drop in profits following its exit from Russia and the country’s associated markets in March.
In its full-year results on Tuesday (November 15), the Bristol-headquartered company said operating profits had fallen by 14.7% over the year to £2.6bn - down from £3.1bn the year before.
The maker of Gauloises and Davidoff cigarettes said adjusted group operating profit was up 1.8%, however, with growth in the company’s tobacco and next-generation products offsetting a distribution decline.
