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JTI 3Q profit down 42% 

JT International Bhd's (JTI) net profit for the third quarter to Sept 30, 2004 fell some 42% to RM29.02 million from the RM41.14 million a year ago despite an 18% jump in revenue to RM242.16 million.

At pre-tax level, its profit was marginally higher at RM40.76 million compared with the RM38.65 million a year earlier.

For the nine months period, JTI posted improved net profit and turnover of RM78.85 million and RM606.92 million compared with RM66 million and RM529.02 million, respectively in the previous corresponding period.

In a statement on Nov 9, it said better pre-tax earnings for the third quarter were due to higher sales volume registered in the period coupled with the increase in cigarettes prices in both September 2003 and 2004.

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