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Imperial Brands PLC - Stock Quote IMB

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Morningstar's Imperial Brands PLC Stock Analysis

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Imperial Back on Track For Financial Performance Improvement in 1H Fiscal 2022; Shares Undervalued

Analyst Note

| Philip Gorham, CFA, FRM |

Imperial's strategy on operational focus and financial improvement was apparent in the firm's impressive interim 2022 results. Operating profit was slightly above our forecast, with volume and revenue in line with our forecast, confirming that volume trends and market share appear to have stabilized in the company's core markets. We are retaining our GBX 2,900 fair value estimate, and believe the market valuation as of the close of business on May 17 undervalues the stock.

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Imperial Brands PLC's Company Profile

Business Description

Imperial Brands is the world's fourth-largest international tobacco company (excluding China National Tobacco) with total fiscal 2021 volume of 232 billion cigarettes sold in more than 160 countries. The firm holds a leading global position in the fine-cut tobacco and hand-rolling paper categories, and it has a logistics platform in Western Europe, Altadis. Through acquisition, Imperial is the third-largest manufacturer in the U.S. and owns the Winston and blu brands.

121 Winterstoke Road
Bristol, BS3 2LL, United Kingdom
T +44 1179636636
Sector Consumer Defensive
Industry Tobacco
Most Recent Earnings
Fiscal Year End Sep 30, 2022
Stock Type
Employees 30,300

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