Categories
· Business (Tobacco)
· Class/Income Levels
non-USA, by Country
· Indonesia
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(Recasts with Q4 numbers, background)
Jump to full article: Reuters, 2008-03-27
Intro: Indonesian tobacco firm PT Gudang Garam Tbk's GGRM.JK fourth quarter net profit more than doubled from a year ago thanks to lower operating expenses and interest charges.
But the results of the country's largest tobacco company, best known for its traditional clove cigarettes, were below analysts' expectations because of strong competition from rivals and the impact of tougher government regulations and tariff pressure.
Some analysts say Gudang Garam's products are mainly targeted at the lower income group, which is more sensitive to price fluctuations and broader economic condition, compared to rival Sampoerna which targets the largely higher income group.
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