Imperial Brands Expands £1.45 Billion Share Buyback Amid Strong Performance in Next-Gen Products

Imperial Brands has announced an additional £1.45 billion ($1.95 billion) share buyback program, reinforcing investor confidence as the company continues to deliver on its growth strategy. The maker of Winston cigarettes and blu e-cigarettes said it remains on track to meet its annual financial targets, driven by strong pricing and rising demand for next-generation tobacco alternatives.

The company previously forecast low single-digit growth in tobacco and next-generation product revenue at constant currency, along with mid-single-digit growth in adjusted operating profit for the year. This steady performance highlights Imperial’s successful efforts to balance traditional tobacco sales with the rapid expansion of smoke-free and vaping products — key areas for future growth.

Imperial Brands’ stock has rebounded significantly since May, when former CEO Stefan Bomhard announced his retirement. The recovery reflects renewed optimism around the company’s long-term vision and consistent delivery on its transformation strategy. On October 1, Lukas Paravicini officially took over as CEO, signaling a new chapter for the British tobacco group.

The company expects its strong market share gains in the U.S., Germany, and Australia to offset softer performance in Spain and the UK. Analysts view the expanded share buyback as a clear signal of financial stability and management’s confidence in sustainable cash flow generation.

By deepening its focus on reduced-risk products and rewarding shareholders through repurchases, Imperial Brands continues to position itself competitively in a rapidly evolving global tobacco market.