IMBBY retrenchmentTobacco biz doing better than expected. More focused approach on vaping and heat-not-burn. IMB will continue to work on the vaping front in NA. No mention of the cannabis-related investment though.
>>>(Reuters) -Imperial Brands Plc said on Tuesday it is off to a "good start" this year as the maker Gauloises and Winston cigarettes looks to capitalise on higher tobacco prices and "significantly reduced" losses in vaping.Imperial will also target tobacco-heating products in Europe and e-cigarettes in the United States, reducing losses from its previous one-size-fits-all approach. The company reiterated its forecast for low-to-mid single digit growth in organic adjusted operating profit growth for the year and said overall tobacco volume sales were in line with its expectations. In the first half it expects group net revenue to grow by at least 1% on an organic, constant currency basis, due to higher tobacco prices and higher next-generation product (NGP) revenue growth. It also expects higher profits from Logista, its logistics operations in Europe.
https://www.marketscreener.com/news/latest/Imperial-Brands-off-to-good-start-eyes-vaping-improvement--32834238/