Fisher Capital Management Warning : Imperial Tobacco Issues Spanish Profit Warning
Imperial Tobacco (IMT.L) today warned profits from its Spanish division could drop by up to £110 million for the year ending 30 September 2011 compared to previous guidance.
The cigarette manufacturer said it was responding to price cuts from competitors in recent weeks, which have impacted all market participants in the Spanish market, and the company has moved to protect its market position.
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