(Reuters] – The Imperial Brands tobacco group (OTC:), reported a modest increase in its full year sales on Tuesday. Higher cigarette prices more than compensated for a drop in volumes.

Gauloises maker West reported an organic adjusted group revenue in excess of 7.59 Billion Pounds ($10.20 Billio) for the year ending Sept. 30, up 1.4% in constant currency.

According to the company, it increased tobacco prices by 4.4% in 2012 which helped offset 2.9% drop in overall volume.

The company exited some markets, which led to a decline in sales of its next-generation products like e-cigarettes or tobacco-heating items.

Stefan Bomhard is the Chief Executive Officer of the Company. After years of stagnant sales, he has increased sales in five high-growth markets while reducing sales to only a small number markets.

The adjusted earnings per share (EPS) for the company producing blu ecigarettes was 247.7 pence in the reporting period. That’s higher than what analysts expected, at 244.5 pence, Refinitiv data shows.

Company stated that it expects net revenue to grow in fiscal 2022 at the same pace as 2021. Adjusted operating profit, however, will slow down due to increased investments.

($1 = 0.7444 pounds)