Strong revenue and profit growth driven by top line growth in the tobacco businesses.
Driven by stronger momentum in the tobacco businesses, full-year forecast adjusted EBITDA at constant rates of exchange has been revised upwards.
Revised profit attributable to owners of the parent is now forecast to grow year-on-year, due to the momentum in the tobacco businesses and currency movements.
Revenue and adjusted EBITDA grew strongly by 4.0% and 8.5% respectively. Adjusted EBITDA at constant rates of exchange increased 16.1%. This was driven by robust pricing and total and GFB shipment volume growth in the international tobacco business as well as by increased total sales volume in the Japanese domestic tobacco business. Profit attributable to owners of the parent increased 13.7%.
International Tobacco Business: Core revenue growth of 4.6% and an adjusted EBITDA increase of 5.8% in US dollars contributed to a solid 9 month performance. At constant rates of exchange, core revenue and adjusted EBITDA grew 12.1% and 17.9% respectively. These results were driven by strong pricing and GFB shipment volume growth. Total shipment volume and GFB shipment volume increased 2.6% and 5.1% respectively amid a challenging business environment.
Japanese Domestic Tobacco Business: Total sales volume and core revenue grew 10.5% and10.2% respectively in comparison to the earthquake-affected prior fiscal year. The growth was supported by steady market share recovery over a short post-earthquake period due to active marketing efforts to strengthen brand equity. Adjusted EBITDA grew 13.3% due to increased total sales volume and the absence of earthquake related costs this fiscal year, partly offset by the Company’s initiatives aimed at enhancing brand equity.