Imperial Tobacco’s Achilles Heel Is European Distribution Business

Rupert Hargreaves

Published onSeptember 30, 2013

Updated on May 13, 2021

This is part one of a two part series on the company. Part one is an overview of Imperial and its operations, part two will look at the company's valuation and future prospects.

Table of Contents

Imperial Tobacco Group PLC (OTCMKTS:ITYBY) (LON:IMT) is an unloved company. The stock has underperformed in the home index, the FTSE 100 (INDEXFTSE:UKX), by nearly 15 percent so far this year, and Imperial has underperformed its only London listed peer by about 10 percent.

Imperial Tobacco’s underperformance due to Europe exposure

Imperial Tobacco Group PLC (OTCMKTS:ITYBY) (LON:IMT)'s underperformance has been down to...

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Rupert Hargreaves

Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for Hedge Fund Alpha

Imperial Tobacco’s Achilles Heel Is European Distribution Business

Imperial Tobacco’s underperformance due to Europe exposure

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