Coles shares rise on buy up speculation

Coles shares rise on buy up speculation

Coles shares jumped 2.9pc during the session after the firm said it would review sales카지노 게임 tax charges on tobacco products and increase tax on alcohol and tobacco products. The sales tax cut to 5pc from 7pc is considered likely, Coles said.

The company said that the first half of 2015 saw strong volumes from its international operations, driven by higher tobacco sales and increased margins on its international tobacco business.

Col카지노 게임es also revealed it is exploring whether it might have to lower the tobac우리 카지노co and alcohol tax on tobacco products in the UK, including tobacco products sold at bars and restaurants, with the aim of selling lower and more attractive branded tobacco products across Britain, the firm said.

Coles on Saturday said it sold 45 per cent of its domestic branded tobacco business in the first half of this year, up 16 per cent on last year.

The bank’s chief executive, James Grant, said that while the first half of the year saw weak tobacco sales growth, the sector was well represented in the company’s top lines and would benefit from higher volumes from its European and Asian brands.

He said: “In the first half of this year, we saw strong sales growth from our brand portfolio, particularly within the retail sector.

“As the UK and Europe experience the global financial and energy crises of 2014, we remain supportive of our international brands.

“We expect higher growth from international branded revenues in 2015, with potential to double the current year growth to almost 20 per cent. The strength of these overseas brands is likely to drive much stronger growth in the UK.”


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