(Bloomberg) -- Imperial Brands Plc, the maker of John Player Special cigarettes in the UK, said that first-half profit at its tobacco business will be ahead of last year despite increased regulation across the industry. 

Tobacco adjusted operating profit in Europe and the Americas more than offset a weaker performance in its Africa, Asia, Australasia and central and eastern Europe region on a constant currency basis, the company said in a trading update Tuesday. 

Imperial, which owns brands such as Davidoff and Gauloises, said it was on track to meet full-year guidance.

“We have delivered strong pricing, more than offsetting wider industry volume pressures in certain markets,” the company said.

Imperial also said it was on track to buy back as much as £1.1 billion ($1.4 billion) of shares, announced last October. 

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