(Adds analysts comments and shares)
Jump to full article: Reuters, 2009-09-22
Intro: Imperial Tobacco Group (IMT.L), the world's No.4 cigarette group, said trading remained in line with its expectations while the integration of Altadis was on track, helping to push its shares higher on Tuesday.
The British maker of Lambert & Butler and West cigarettes acquired Franco-Spanish group Altadis in January 2008 to add brands such as Gauloises and Fortuna. Imperial said the integration was on track to deliver expected cost savings.
Imperial shares edged 0.7 percent higher to 1,765 pence by 0715 GMT within a firmer London stock market .FTSE. Analyst Julian Hardwick at house broker RBS said that with earnings set to meet expectations, Altadis savings on track and strong cash generation, the shares look far too cheap compared to cigarette rival British American Tobacco Plc (BATS.L).
"We continue to see tobacco as the most attractive of the European consumer staples sectors
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