Imperial Brands Shares Soar to Eight-Year High on £1.45B Buyback
Imperial Brands, led by CEO Lukas Paravicini since 2019, has seen its shares soar to eight-year highs. The tobacco giant has announced a £1.45 billion share buyback, with plans to return almost £1.5 billion to investors.
The company's stock jumped by 3.4 percent following the announcement, reaching levels not seen since early 2018. This surge comes as Imperial Brands is 'on track' due to higher cigarette prices and strong demand for innovative products like vapes and heated tobacco.
While the company has faced market share declines in the UK and Spain, this has been broadly offset by growth in other regions. Imperial Brands' market share is growing in key markets such as the US, Germany, and Australia.
Imperial Brands' share buyback and promising outlook have driven its stock market price to heights not seen in nearly a decade. The company's strategic focus on new products and pricing has helped it maintain a strong position in the global tobacco market.
