Imperial Brands (LSE:IMB) reported another year of steady operational progress, with tobacco and next-generation product (NGP) net revenue rising 4.1%. The uplift was driven by double-digit expansion in NGP and steady market share trends across key geographies. Although reported revenue dipped slightly, the company delivered a 4.6% increase in adjusted operating profit and a 9.1% rise in adjusted earnings per share. Imperial also continued to prioritise shareholder returns, lifting its dividend by 4.5% and completing a £1.25bn share buyback during FY25.
Looking ahead, the group plans to broaden its strategic focus by investing more heavily in innovation and consumer insight, aiming to enhance its product capabilities and sustain growth across both its traditional tobacco and NGP portfolios.
Imperial Brands’ outlook is supported by resilient financial performance and an appealing valuation profile, with the completed buyback further strengthening returns for shareholders. Even so, technical indicators hint at potential overbought conditions, suggesting a degree of caution in the near term.
More about Imperial Brands
Imperial Brands PLC is a global tobacco and NGP company with strong positions across five core markets. Its portfolio includes traditional tobacco products as well as next-generation offerings such as vapour devices and oral nicotine. The business focuses on sustaining value in combustibles while scaling its NGP segment to support long-term, sustainable growth.
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