During an earnings call today, executives said the transaction was closed and there’s “absolutely no clause of buyback in there”.
Imperial also reported adjusted net revenue of about £3.5 billion, up 0.3% in constant currencies, for the six months ended March 31.
Demand for e-cigarettes and heated tobacco products is helping to make up for lower tobacco volumes.
CEO Stefan Bomhard is steering Imperial through a five-year turnaround plan laid out in 2021 focused on its five top markets and expanding next-generation products (NGP) deemed less harmful to health. Together, the US, UK, Germany, Spain and Australia account for over 70% of Imperial’s revenue.
“Our focus for the remainder of 2022 will be to invest further in our five priority markets and begin the roll-out of our NGP strategy,” Mr Bomhard said.
Adjusted earnings per share rose to 113 pence per share from 107 pence a share last year.
Sales of next generation brands, which include Pulze heated tobacco and blu e-cigarettes, were up 8.7% to £101m, driven by demand in Europe.
In November, the company reported a more than 50% reduction in losses in the business.