£4.5bn black market cigarette tax loss should be ‘a major wake-up call’ for Labour Tax Over half of cigarettes smoked in the UK are black market and are contributing £4.5bn to the country’s tax losses – a record high – according to new analysis from KPMG and tobacco giant Philip Morris. The findings show that 1.5bn more black-market, tax-free cigarettes were consumed by UK smokers last year compared to 2024, [...]
Imperial Brands warns Iran war may weigh on costs and consumer demand Business One of Britain’s biggest tobacco companies is bracing for a potential slowdown in consumer demand sparked by the conflict in the Middle East as it hikes prices to offset cigarette declines in the first half of the year. FTSE 100 member Imperial Brands stood by its revenue and profit forecasts for the year, but noted [...]
Imperial Brands CEO to leave FTSE 100 giant as successor named Markets The boss of Imperial Brands is to retire after five years at the helm of the business at the London-listed tobacco giant. Stefan Bomhard, who joined the company in July 2020, will step down as CEO in October this year. He will remain on the company’s board until the end of 2025. The German executive, [...]
Imperial Brands’ bet on e-cigarettes and ‘next generation’ products bears fruit November 19, 2024 Tobacco giant Imperial Brands has reported a dip in revenue despite double-digit growth in its electronic cigarettes division and growth in its traditional tobacco division. The company told markets this morning that net revenue from tobacco and ‘next generation’ products rose 4.6 per cent in the year ended September 30. Adjusted earnings per share rose [...]