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Imperial Brands Suspends Operations, Stops Sales in Russia

By Sabela Ojea

 

Imperial Brands PLC said Wednesday that it has suspended all operations in Russia due to the invasion of Ukraine, halting production at its factory in the city of Volgograd.

The FTSE 100 tobacco group said it has also stopped all sales and marketing activity in Russia.

Imperial Brands said it had already suspended its operations in Ukraine for the safety of its 600 employees in the country, adding that Russia and Ukraine represented 2% of its total net revenue and 0.5% of adjusted operating profit for the year ended Sept. 30.

Shares at 1014 GMT were up 49.00 pence, or 3.3%, at 1,541.00 pence.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

March 09, 2022 05:35 ET (10:35 GMT)

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