Gerry Gallegher, Equity Analyst, Deutsche Bank, talks about the value of the company - Video Transcript
I think this industry has pricing power; this industry clearly has strong cash generation. Imperial’s track record shows it invests its excess capital wisely. If you then think about just the straightforward valuations of the equity, my own view is, the equity market still substantially misunderstands the value inherent in the tobacco industry, and while the press maybe full of sound bites that tend to focus in on the negative, the reality of the business, the reality of the cash flow and the reality of the valuation in the equity market, highlight to me that this industry and Imperial Tobacco can still, offers tremendous value for shareholders.