LONDON-- Imperial Tobacco Group PLC reported a small decline in
nine-month revenue on Tuesday and said it was on course to complete
its acquisition of a pack of U.S. cigarette brands from Reynolds
American Inc. and Lorillard Inc.
Imperial, maker of JPS and Gauloises, said sales fell 1% to
GBP4.75 billion ($7.95 billion) in the nine months to June 30. It
said its guidance of "modest" growth in adjusted earnings per share
remained unchanged.
Imperial last month agreed to buy a number of cigarette brands
including Winston, Kool and Salem from Reynolds and Lorillard for
$7.1 billion as part of a planned $25 billion merger between the
two U.S. companies. In a surprise move, the deal also included Blu
electronic cigarettes, the No. 1 selling brand in the U.S.
Added to its existing portfolio, the new brands would make
Imperial the third-largest player in the U.S. tobacco market--if
the deal is successful. Imperial said it expected to complete the
transaction in 2015, without providing more specific details.
"I'm pleased with the continued improvement in the quality of
our sales growth," said Chief Executive Alison Cooper.
Write to Peter Evans at peter.evans@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires