A poor leaf harvest in Cuba hit supplies of Cohiba and Montecristo cigars for owner Imperial Tobacco.
The
world’s fourth-largest cigarette maker used a disappointing full-year
update to confirm that 540 jobs will be lost with the closure of its
factory in Nottingham following a recent consultation with workers.
Imps
chief executive Alison Cooper saw sales fall to £26billion for the year
to September 30 from £28billion after a number of markets saw smokers
cut back.
Go up in smoke: Imperial Tobacco is cutting 540 jobs
The emerging markets of Russia and Iraq were particularly hard hit.
The
maker of Davidoff, which floated 30 per cent of its Logista
distribution business raising £395million, saw pre-tax profit rise to
£1.5billion from £1.2billion.
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