Imperial Brands Reports Profit Decline; Share Buyback Announced

Imperial Brands PLC (LON: IMB) announced its full-year results for the period ending September 30, 2025, revealing a mixed performance picture.

While adjusted earnings per share saw a rise, reported earnings per share experienced a significant decline. The company has also unveiled a new share buyback program.

Revenue: Reported revenue decreased slightly by 0.7% to £32.17 billion. However, tobacco and NGP (Next Generation Products) net revenue increased by 4.1% on a constant currency basis, reaching £8.316 billion.

Profit & Margins: Group adjusted operating profit grew by 4.6%, while reported operating profit declined by 1.8%. Adjusted earnings per share increased by 9.1% to 315.0p, but reported EPS fell by 16.5% to 251.1p.

Cash & Balance Sheet: The company reported strong free cash flow of £2.7 billion. Adjusted net debt stood at £8.4 billion, with an adjusted net debt to EBITDA ratio of 2.0x.

Imperial Brands is rewarding shareholders with an increased dividend of 4.5% to 160.32p per share. The company has also completed a £1.25 billion share buyback for FY25 and initiated a new £1.45 billion buyback program for FY26, demonstrating a commitment to returning value to investors.

Lukas Paravicini, Chief Executive Officer stated, “Our consistently strong operational and financial delivery provides a firm platform on which to build as we embark on the next phase of our strategy”.