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(Rewrites with further analyst comment and details, shares)
Jump to full article: Reuters, 2006-09-06
Author: David Jones
Intro: British tobacco company Gallaher Group Plc (GLH.L: ) posted a 4 percent rise in first-half profits on Wednesday and forecast an improving second half, but its shares slipped as its growth fell short of its rivals.
The company, whose cigarette brands include Benson & Hedges, Silk Cut and Mayfair in Britain, said its problem areas in Europe such as Austria, Spain and Poland should improve in the second half as competitive pressure eases and stability returns.
"Looking ahead those areas that showed profits down are now showing improvements and we expect to hit our expectations for the year," said Chief Executive Nigel Northridge in a conference call after the results.
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