Jump to full article: Bloomberg News, 2008-03-19
Author: Thomas Mulier
Intro: Imperial Tobacco Group Plc, the maker of Davidoff and West cigarettes, said costs related to its takeover of Altadis SA will lop 140 million pounds ($281 million) from the current fiscal year's profit.
The expenses concern the value of inventory, elimination of inter-company sales and depreciation adjustments, Imperial said today in a statement. Sales are meeting its forecast so far in the year, according to the Bristol, England-based company. . . .
The western European cigarette market will shrink by 1 percent to 2 percent over coming years, Philip Morris International said yesterday. The contraction has slowed following smoking bans and tax increases that cut into consumption in past years, PMI executives said.
Tobacco use will kill 1 billion people this century, a 10- fold increase over the previous 100 years, unless governments in poor nations raise taxes on consumption and mandate health warnings, the World Health Organization said in February.
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Tobacco use will kill 1 billion people this century, a 10- fold increase over the previous 100 years, unless governments in poor nations raise taxes on consumption and mandate health warnings, the World Health Organization said in February.
Bloomberg story on Imperial's purchase of Altadis. It's unusual to see a purely business story also point out the health costs of tobacco.
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