The tobacco manufacturer reported an adjusted operating profit below analysts’ expectations for the year but confirmed its guidance for fiscal 2025 and said it was working on a new five-year strategy through to 2030.

Cigarette maker Imperial Brands on Tuesday reported forecast-beating operating profit and said it expected another strong performance next year, as revenues from smoking alternatives soared 26%.

Imperial already announced a full-year dividend for 2024 and a share buy back for 2025, which it said would boost shareholder returns to £2.8 billion in its new financial year. The company said it was working on a new five-year strategy, and will provide details at a capital markets day in March.