31st Mar 2020 09:13
(Alliance News) - Tobacco company Imperial Brands PLC on Tuesday said that it has seen no material impact on performance to date from Covid-19 pandemic, and current trading remains in-line with expectations.
"Our operations benefit from a diversified supply chain and factory footprint, which is prioritising the manufacture of major product lines to build contingency stocks. Our distribution business, Logista, which serves Italy, France and Spain has increased the levels of finished goods stock in its regional distribution hubs and continues to deliver product to retailers," the Davidoff cigarette maker said.
The FTSE 100-listed company also said that it has secured a new EUR3.5 billion multi-currency revolving credit facility from a syndicate of 20 banks.
The loan provides the company with committed bank financing until March 2023 and replaces the existing GBP3 billion loan facility.
Shares in Imperial Brands were up 9.6% at 1,460.60 pence each in London on Tuesday morning.
By Tapan Panchal; [email protected]
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