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    IMB   GB0004544929

IMPERIAL BRANDS PLC

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Imperial Brands : Philip Morris to end Marlboro cigarette sales in UK within a decade

07/26/2021 | 07:37am EDT
FILE PHOTO: An illustration picture shows a pack of Marlboro cigarettes in a coffee house in Vienna

(Reuters) - Tobacco group Philip Morris International will stop selling Marlboro cigarettes in Britain within a decade, its chief executive told https://www.dailymail.co.uk/news/article-9822189/Tobacco-giant-Philip-Morris-stop-selling-cigarettes-Britain-ten-years.html the Daily Mail, in line with the country's wider ambition to stamp out smoking by 2030.

"I think in the UK, ten years from now maximum, you can completely solve the problem of smoking," Chief Executive Officer Jacek Olczak said in the report, adding that it would require the help of governments and regulators.

Doing its part, Olczak said the Marlboro brand "will disappear" from British store shelves along with its other brands, ending a more than 100-year association with the country.

Olczak, who has embarked on a more aggressive strategy to diversify the world's largest tobacco company away from cigarettes, has previously https://www.telegraph.co.uk/business/2021/07/24/marlboro-maker-calls-cigarette-ban-britain called on Britain to treat cigarettes like petrol cars and ban them in 10 years time.

The $153 billion-dollar company sells Marlboro cigarettes outside the United States, after it split off from parent company Altria in 2008. Altria sells Marlboro in the U.S.

Earlier this month, Philip Morris launched a 1.05 billion pound bid for British asthma drug-maker Vectura as part of its "evolution into a broader healthcare and wellness company," that will also see it get more than 50% of its revenue from smoke-free products and at least $1 billion from products beyond nicotine by 2025.

The deal has received backlash https://www.theguardian.com/business/2021/jul/25/tobacco-firm-philip-morris-calls-for-ban-on-cigarettes-within-decade from anti-tobacco groups and has spurred a reaction from the World Health Organization, which called such healthcare partnerships by Big Tobacco as undermining its progress on controlling its "deadly products."

(Reporting by Siddharth Cavale in Bengaluru; Editing by Bernard Orr)


ę Reuters 2021
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Financials
Sales 2021 8 758 M 11 927 M 11 927 M
Net income 2021 2 324 M 3 164 M 3 164 M
Net Debt 2021 9 546 M 12 999 M 12 999 M
P/E ratio 2021 6,61x
Yield 2021 9,06%
Capitalization 14 581 M 19 917 M 19 856 M
EV / Sales 2021 2,75x
EV / Sales 2022 2,67x
Nbr of Employees 32 500
Free-Float 89,0%
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Number of Analysts 19
Last Close Price 15,55 GBX
Average target price 1 944,88 GBX
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Stefan Bomhard Chief Executive Officer & Director
Lukas Jean-Baptiste Paravicini Chief Financial Officer & Director
Therese Marie Esperdy Non-Executive Chairman
Steven P. Stanbrook Independent Non-Executive Director
Simon Langelier Independent Non-Executive Director