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Jump to full article: The Wall Street Journal Interactive Edition, 2004-10-19
Author: CHRISTINA CHEDDAR BERK / DOW JONES NEWSWIRES
Intro: Altria Group Inc. said third-quarter profit rose 6.3%, helped by a lower tax rate and higher income from its stake in brewer SABMiller PLC.
The maker of Marlboro and Virginia Slims cigarettes and majority owner of Kraft Foods Inc. said it also benefited from increased sales of its cigarettes overseas. The results were offset by earnings declines at Kraft Foods, which suffered from higher commodity and marketing costs.
If current foreign-exchange rates hold, the company should be able to reach the higher end of its prior earnings forecast for 2004 or $4.55 to $4.60 a share, said Chief Financial Officer Dinyar Devitre, during a conference call. Altria had given a prior forecast range of $4.50 to $4.60 share.
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