Tobacco News:

Orgs: Rothmans
RSS: http://tobacco.org/newsfeed/org/rothmans.rss
Choose type:
Search Term(s):
[Headlines Only] [Top Stories Only]
Rothmans
Prev Page « [16 - 30 of 109] » Next Page
Categories
· Business (Tobacco)
· Cross-Border/Crime
non-USA, by Country
· New Zealand
Organizations
· BAT
· Rothmans

NZ Watchdog/British American Tobacco -3: Pays Costs 

Jump to full article: Dow Jones News Service, 2003-02-05
Author: Stephen Wright, Dow Jones Newswires

Intro:

Commission Chairman John Belgrave said the settlement resolves important issues under the former Commerce Act "not least of which was the application of the Act to offshore businesses."

The Commerce Act was updated in mid-2001 with the test of anticompetitive behavior extended to cover acquisitions that strengthen a dominant position. The old Act only prohibited acquisitions that resulted in dominance.

But British American Tobacco argued the New Zealand transaction was just a reconstruction of the two companies which were already under common control following the merger, according to the commission.

The tobacco maker continues to deny any liability under the Commerce Act but as part of the settlement will pay NZ$350,000 towards the regulator's costs.

Jump to full article »

Categories
· Business (Tobacco)
· Cross-Border/Crime
non-USA, by Country
· New Zealand
Organizations
· BAT
· Rothmans

Tobacco giant pays NZ merger forfeit 

Jump to full article: New Zealand Herald, 2003-02-06
Author: CHRIS DANIELS

Intro:

A legal stoush between tobacco giant British American Tobacco and the Commerce Commission has ended with an out-of-court settlement and a $350,000 payment from the cigarette maker.

At the heart of the dispute was whether the local effects of a global merger fell foul of the Commerce Act, which prohibits the acquisition of a company if it gives a dominant market position.

The case began in 1999, when British American merged with Rothmans in New Zealand, after a merger of their parent companies.

As part of its settlement announced yesterday by the commission, BAT has agreed to sell some of its brands - Sportsman, Cameo, Pacific, Topaz, North Pole, Matinee and Three Castles - which the commission says have a combined net value of $10 million.

Jump to full article »

Categories
· Business (Tobacco)
non-USA, by Country
· Canada
Organizations
· Rothmans
· Rothmans B&H

Rothmans Inc says 2nd-quarter earnings fall 

Jump to full article: Reuters, 2002-10-29

Intro:

Rothmans Inc. said on Tuesday its earnings fell in the second quarter principally due to changes in the sales mix between higher margin cigarettes and lower margin fine cut products.

Rothmans, whose subsidiary Rothmans Benson and Hedges is Canada's No. 2 cigarette maker, said earnings for the period ended Sept. 30 were C$23.3 million ($14.9 million), or 70 Canadian cents a share, down from C$24.1 million, or 73 Canadian cents, for the same period a year ago.

Analysts polled by the First Call research firm expected an average profit of 65 Canadian cents per share.

Jump to full article »

Categories
· Business (Tobacco)
Organizations
· Rothmans
· Rothmans B&H

Rothmans Inc.: 2nd Quarter Report Six Months Ended September 30, 2002 

Jump to full article: CCN Matthews Newswire (ca), 2002-10-29
Author: Source: Rothmans Inc.

Intro:

The Board of Directors of Rothmans Inc. today declared a special dividend of $5.00 per share payable December 17, 2002 to shareholders of record at the close of business December 3, 2002. This special dividend will be in addition to the regular quarterly dividend of $0.375 per share.

"Over the past six months, we have been reviewing the global tobacco industry for acquisition opportunities for the Company"said John Barnett, President and Chief Executive Officer of Rothmans Inc. "Whilst our assessment led us to the conclusion to pay a special dividend at this time, we believe that continued consolidation in the global industry may well present opportunities in the future. We believe that Rothmans' continuing financial strength will allow us to pursue these opportunities should they arise." . .

The Company was recently advised that it has been named as a defendant along with numerous other parties and tobacco manufacturers in an action commenced in the United States District Court for the Southern District of New York. The proceeding, which has not been served on the Company, claims damages as a result of apartheid policies practiced in South Africa. Neither the Company nor RBH have conducted business in South Africa and the Company does not believe it should be named in the proceeding.

Jump to full article »

Categories
· Business (Tobacco)
· Investing
Organizations
· MO
· UST
· Rothmans

Financial Post: Do the gods smile on angelic investors? 

Jump to full article: Hoover's, 2002-09-14

Intro:

So, guess which group won on performance over the past five years -- the 21 sin stocks or the 30 top ethical picks?

Surprise, the ethical holdings won handily with an average gain of 133.3%, as all but two -- Walt Disney Co. and Emco Ltd. -- achieved a positive total return over five years. While nearly every sin stock managed to post double-digit gains, the total returns over five years for the 21 companies still averaged just 52.6%. The good guys outpaced the bad guys by two-and-a-half times.

"Ethical businesses are growth businesses," said Scott Morrison, manager of Investors Group's giant $2.07-billion Summa fund.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans Inc. Announces First Quarter Conference Call And Webcast 

Jump to full article: CCN Matthews Newswire (ca), 2002-07-23
Author: SOURCE: Rothmans Inc.

Intro:

Rothmans Inc. invites analysts and portfolio managers to participate in a conference call with management to discuss the results of the first quarter ended June 30, 2002. The results will be announced on July 29, 2002. Shareholders and media are also invited to listen to the call by telephone or by webcast through the company's investor website, www.rothmansinc.ca.

Conference Call:

Date: Tuesday, July 30, 2002

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans shops again for acquisitions 

Europe, North America: Must have acceptable litigation, legal risks: CEO
Jump to full article: National Post (ca), 2002-05-25
Author: Sahm Adrangi / Financial Post, with files from Bloomberg News

Intro:

Toronto-based cigarette maker Rothmans Inc. is back on the hunt for acquisitions in North America and western Europe, six months after it was outbid by R.J. Reynolds Tobacco Holdings Inc. in its attempted buyout of Santa Fe Natural Tobacco Co. Inc.

John Barnett, the company's chief executive officer, said in a conference call with analysts and investors that any acquisition must have "acceptable legal and litigation risks".

Analysts said that the alternative to an acquisition would be handing cash back to shareholders. "The Canadian market is continuing to shrink and if they can't put their capital to work somewhere else, the company will continue to shrink as well," said William Chisholm, an analyst with Dundee Securities Corp.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans Inc. Reports Record Earnings For Fiscal 2002 

Jump to full article: CCN Matthews Newswire (ca), 2002-05-23
Author: SOURCE: Rothmans Inc.

Intro:

"Rothmans performed extremely well in fiscal 2002, " said John Barnett, President and Chief Executive Officer of Rothmans Inc. "The company continues to provide solid value for shareholders through increased earnings and a high dividend yield."

Fiscal 2002

For the fiscal year ended March 31, 2002, Rothmans increased earnings, excluding a merger break fee, by 14% to $81.2 million or $2.46 per share, compared with $71.5 million or $2.16 per share, for the previous year. A merger termination fee contributed additional earnings of $12.4 million or $0.31 per share.

Sales at 60%-owned Rothmans, Benson & Hedges Inc., net of excise duty and taxes, were $562.5 million, up from $538.2 million in the same period last year. Higher sales revenues reflected the continued impact of prices increases. By year-end, RBH slightly increased its composite market share to 21.6% from 21.3%.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans Inc. Announces Conference Call And Webcast 

Jump to full article: CCN Matthews Newswire (ca), 2002-05-21
Author: SOURCE: Rothmans Inc.

Intro:

Rothmans Inc. invites analysts and portfolio managers to participate in a conference call with management to discuss the results of the fourth quarter and year ended March 31, 2002. The results will be announced before the market opens on May 24, 2002. Shareholders and media are also invited to listen to the call by telephone or by webcast through the company's investor website, www.rothmansinc.ca.

Date: Friday, May 24, 2002

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans Looks for Acquisitions  

Burned over Santa Fe, cigarette maker on the prowl
Jump to full article: Convenience Store/Petroleum, 2002-02-25

Intro:

Canadian tobacco firm Rothmans Inc., which lost a bidding war to R.J. Reynolds late last year when it attempted to acquire Santa Fe Natural Tobacco Co., said that it will target assets in Western Europe and North America in the next 12 months, according to a Reuters report.

"Our eyes are open and our hands are on our wallets," CEO John Barnett said during a conference call for analysts about acquisition plans.

Analysts said an acquisition would not offer Rothmans, whose subsidiary Rothmans, Benson & Hedges is Canada's No. 2 cigarette maker, operational synergies because the company has no plants outside of Canada. Rothmans' primary reason to buy is to increase shareholder value, they added.

Barnett said consolidation in the global tobacco market would create acquisition opportunities.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans gets cash for failed acquisition 

Jump to full article: Globe and Mail (ca), 2002-02-23
Author: OLIVER BERTIN / FOOD INDUSTRY REPORTER Saturday, February 23, 2002 – Page B44

Intro:

Rothmans Inc. may have lost round one in its bid to buy Santa Fe Natural Tobacco Co., but it cleaned up in round two: It was paid $11.5-million (U.S.) in termination fees.

That sum was enough, Rothmans said in releasing third-quarter financial results, to raise profit by 1 cent (Canadian) a share in the third quarter and another 30 cents in the fourth quarter after the cost of the bid is deducted.

Rothmans' share price rose by 30 cents on the Toronto Stock Exchange yesterday to close at $31.80.

"We were very disappointed" when Rothmans lost Santa Fe in December to a competing bid by R.J. Reynolds Tobacco Holdings Inc., said John Barnett, president and chief executive officer of the Toronto-based company. But that did not discourage him from pursuing further acquisitions.

"We have a pro-active program" to make another acquisition, he said in a conference call with analysts yesterday following the release of the company results.

He added that the company was aggressively looking for a North American tobacco company that will take Rothmans into the international market.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans profits rise, says to look for buys 

(UPDATE: Adds closing share price)
Jump to full article: Reuters, 2002-02-22
Author: Rajiv Sekhri

Intro:

Rothmans Inc. (Toronto:ROC.TO), trumped in last year's bidding war for a small U.S. tobacco firm, said on Friday it is still in the market, and is targeting deals in Western Europe and North America within the next 12 months.

``Our eyes are open and our hands are on our wallets,'' Chief Executive John Barnett told a conference call for analysts, asked about the firm's acquisition plans.

Rothmans said third-quarter profits rose 30 percent because of cost reductions and higher prices. But sales volumes fell again, suffering from those same higher prices and from a growing anti-smoking movement.

Rothmans said it earned C$24.6 million ($15.5 million), or 74 Canadian cents a share, in the quarter ended Dec. 31, up from a profit of C$18.9 million, or 57 Canadian cents a share, in the year-ago quarter.

Sales were C$150.7 million, up from C$135.5 million in the third quarter of the previous fiscal year.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans earns dlrs 24.6 million in fiscal Q3 

Jump to full article: AP, 2002-02-22

Intro:

Cigarette maker Rothmans Inc., whose main operating subsidiary is being investigated by the Canadian police, earned sharply higher profits in its fiscal third quarter as the cigarette maker increased revenue and lowered its costs. . .

Rothmans also noted that the police are reviewing the business records of its 60 percent owned operating subsidiary Rothmans, Benson & Hedges Inc. related to tobacco smuggling in the early 1990s.

The police are examining RBH's books from 1989-1996, a period of high tobacco taxes, rising Canadian exports to the United States and smuggling of cigarettes back into Canada from the U.S.

"During this period, exports of tobacco products by all three major Canadian tobacco manufacturers increased significantly," Rothmans said. "Smuggling of tobacco products into Canada also occurred during this time. These products included products manufactured by RBH."

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans says will hunt for buys in next 12 months 

Jump to full article: Reuters, 2002-02-22

Intro:

Canadian cigarette maker Rothmans Inc. (Toronto:ROC.TO) said on Friday it will look for acquisitions in the next 12 months in North America and Europe.

``Our eyes are open and our hands are on our wallets,'' Chief Executive John Barnett told a conference call for analysts.

Experts say Rothmans needs to acquisitions to increase its sales, which have averaged 1 percent increases over the past four years. Late last year, Rothmans lost a bid to buy privately owned Santa Fe Natural Tobacco to giant R.J. Reynolds (NYSE:RJR).

Rothmans, whose subsidiary Rothmans Benson & Hedges is Canada's No. 2 cigarette maker, said on Friday its third-quarter profits rose sharply because of cost reductions and higher cigarette prices, despite declining volumes.

Jump to full article »

Categories
· Business (Tobacco)
· Rothmans
non-USA, by Country
· Canada
Organizations
· Rothmans

Rothmans 3rd-quarter profit rises on costs, prices 

Jump to full article: Reuters, 2002-02-22

Intro:

TORONTO, Feb 22 (Reuters) - Canadian cigarette maker Rothmans Inc. said on Friday its third-quarter profits rose sharply because of cost reductions and higher cigarette prices despite declining volumes.

Rothmans, whose subsidiary Rothmans Benson & Hedges is Canada's No. 2 cigarette maker, said it earned C$24.6 million, or 74 Canadian cents a share, in the quarter ended Dec. 31. That was better than a profit of C$18.9 million, or 57 Canadian cents a share, in the year-ago quarter.

Sales were C$150.7 million, up from C$135.5 million during the third quarter of the previous fiscal year.

Jump to full article »

Rothmans
Prev Page « [16 - 30 of 109] » Next Page