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· Business (Tobacco)
· Cross-Border/Crime
non-USA, by Country
· Canada
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· Rothmans B&H
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(Recasts, adds details; changes dateline from Toronto)
Jump to full article: Reuters, 2008-05-16
Author: Susan Taylor
Intro: Fourth-quarter profit at Rothmans Inc grew 17 percent, Canada's No 2 cigarette maker said on Friday, as price increases more than offset pressure from a growing trade in contraband tobacco.
Increased competition to sell low-priced cigarettes and declining volumes posed further difficulties, but Rothmans said it is well positioned financially to withstand market pressures thanks to C$234.9 million in cash reserves.
Known for its Craven A, Rothmans and Benson & Hedges brands, the company said it earned C$21 million ($21 million), or 31 Canadian cents per share, in the period ended March 31.
That is up from C$18 million, or 26 Canadian cents per share, in the same period last year and betters analyst expectation for a profit of 30 Canadian cents a share.
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