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· Rothmans B&H

• Rothmans reports loss after smuggling settlement  

Jump to full article: Reuters, 2008-08-12

Intro:

Rothmans Inc, which is being bought by Philip Morris International Inc, reported a first-quarter loss on Tuesday, hurt by expenses relating to a police investigation into tobacco smuggling.

Canada's No. 2 cigarette maker said it lost C$354.4 million ($331 million), or C$5.20 a share, compared to a profit of C$33.8 million, or 49 Canadian cents a share, a year earlier.

Rothmans said profits were hurt by expenses relating to a settlement involving its unit Rothmans Benson & Hedges Inc, which in late July admitted to helping smugglers.

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