Imperial Tobacco considering a market listing for its Logista unit

 
Oliver Smith
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IMPERIAL Tobacco led the FTSE 100 risers yesterday following the announcement that it is considering an initial public offering (IPO) for its European logistics division.

Madrid-based Logista distributes Imperial’s cigarettes in countries including France, Spain and Italy but also has non-tobacco customers. Last year it recorded revenue of £8.3bn and an adjusted operating profit of £176m.

“Imperial Tobacco confirms it is reviewing its options in relation to a potential IPO of Logista. There is no certainty as to the outcome of that review,” Imperial Tobacco said in a statement.

The maker of Davidoff and Gauloises cigarettes also reported underlying revenue growth of one per cent for the first quarter to £1.56bn, although this was down six per cent on a reported basis, with momentum from the Middle East and Asia. Imperial’s shares closed up 5.66 per cent at 2,351p.

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