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  "documentTitle": "Imperial Brands | Investor Day Presentation Deck | 97 slides",
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  "authorName": "Imperial Brands",
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  "presentationDate": "2021-01-01 00:00:00",
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  "notes": "FMC = Factory Made Cigarettes; FCT = Fine Cut Tobacco; OP = Operating Profit.",
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      "text": "IMPERIAL BRANDS",
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      "text": "Large profit pool with relatively light regulation; High affordability and stable consumer base; Attractive market outlook – pricing continuing to offset volume decline; Increasing downtrading towards lower tiers and FCT where Imperial is well positioned",
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      "text": "1. Volume Share - Measured as average share during period Oct 19 to Jul 20 – If Private Label excluded : FMC – 26%, FCT – 23% Source: Imperial Internal Estimate",
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      "text": "FMC (c.85% OP) vs FCT (c.15% OP) with brand logos and market share metrics",
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