Imperial Tobacco lifts annual profit as cheaper materials, lower staff bill offset rising tax

Mon, 15 Jan 2018

By Paul McBeth Jan. 15 (BusinessDesk) - Imperial Tobacco New Zealand boosted annual profit by almost a third as cheaper raw materials and a smaller wage spend helped offset a rising excise duty bill that has more than doubled over the past decade. The Lower Hutt-based local unit of UK tobacco giant Imperial Brands Plc reported a net profit of $39.9 million in the year ended Sept. 30, up from $30.5 million a year earlier, financial statements lodged with the Companies Office show. Revenue increased 1.5 percent to $562.7 million, lagging b...

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