Jump to full article: Bloomberg News, 2008-05-01
Author: Fergus Maguire
Intro: Japan Tobacco Inc., the world's third- largest publicly traded cigarette maker, said full-year profit rose 13 percent after the takeover of Gallaher Group Plc helped increase overseas sales.
Net income was 239 billion yen ($2.3 billion) in the 12 months through March from 211 billion yen a year earlier, Japan Tobacco said in a statement to Tokyo's stock exchange today.
The maker of Camel and Mild Seven cigarettes purchased U.K.-based Gallaher last year to increase tobacco sales in Europe and Russia as smoker numbers fall in its home market. The contribution of overseas cigarette sales to total revenue doubled to 41 percent over the past year. . . .
Tobacco sales in Japan fell 1.6 percent to 3.36 trillion yen as an increase in health consciousness reduces the smoking rate. The percentage of Japanese men that smoke has fallen by half over the past 40 years to about 40 percent.
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