Imperial Brands(US:IMBBY)2019-11-05 11:27Financial Performance - Tobacco net revenue increased by 2.7% to £7.713 billion, but at constant currency, the increase was 1.1%[13] - NGP (Next Generation Products) net revenue increased significantly by 52% to £285 million, or 48% at constant currency[12] - Total adjusted operating profit (AOP) decreased by 0.5% to £3.749 billion, or a decrease of 2.4% at constant currency[15] - Adjusted EPS (Earnings Per Share) increased slightly by 0.4% to 273.3 pence, but decreased by 1.6% at constant currency[17] - Net debt movement was a decrease of £0.3 billion[20] Tobacco Business - Tobacco volumes decreased by 4.4%[10] - Asset Brand net revenue increased by 4.4%[55] NGP Strategy - The company is resetting its NGP investment to support sustainable growth, focusing on priority market/category combinations[6] - Heated tobacco net revenue increased by 400% from a low base[66] Regional Performance - Americas tobacco net revenue increased by 6.8%, while NGP net revenue increased by 30.5%[69] - In AAA (Africa, Asia, and Australasia), tobacco net revenue increased by 4.8%, while NGP net revenue increased by 880%[73] - Europe tobacco net revenue increased by 0.3%, while NGP net revenue increased by 309%[79] FY20 Outlook - The company expects low single-digit revenue and EPS growth (at constant currency) in FY20[91]