Imperial Brands Reiterates FY26 Guidance

Imperial Brands reiterated full-year guidance for low-single-digit tobacco net revenue growth, double-digit NGP net revenue growth, 3% to 5% adjusted operating profit growth, and at least high-single-digit EPS growth, all at constant currency. The update signals continued confidence in underlying business momentum and profitability. This is supportive but largely reiterates existing expectations rather than introducing a major surprise.

Analysis

Imperial Brands reiterated full-year guidance for low-single-digit tobacco net revenue growth, double-digit NGP net revenue growth, 3% to 5% adjusted operating profit growth, and at least high-single-digit EPS growth, all at constant currency. The update signals continued confidence in underlying business momentum and profitability. This is supportive but largely reiterates existing expectations rather than introducing a major surprise.