http://www.tobacco.org/newsfeed/org/rothmansbh.rss Latest top tobacco news headlines en-us http://www.cnw.ca/en/releases/archive/May2008/16/c9391.html http://tobacco.org/news/266333.html Rothmans Inc. today announced results for the fourth quarter and fiscal year ended March 31, 2008. Rothmans' earnings for the year were $117.6C million or $1.73 per basic share compared with $99.8 million or $1.47 per basic share in fiscal 2007. Sales at 60%-owned subsidiary Rothmans, Benson & Hedges Inc., net of excise duty and taxes, for the 2008 fiscal year were $670.6 million compared with $618.6 million in fiscal 2007. Investment income of $12.2 million for fiscal 2008 was $3.1 million higher than fiscal 2007, due to the higher average cash balance held and a higher rate of return experienced during the year. . . . The Company and RBH are subject to a number of lawsuits and legal proceedings, investigations and legislation as described below: - In February 2005, the Québec Superior Court authorized two actions brought by plaintiffs resident in the Province of Québec to proceed as class actions against RBH, . . . - RBH is currently the subject of an ongoing investigation by the RCMP relating to its sales of products exported from Canada in the period 1989-1996. . . . - In January 2001, the Province of British Columbia initiated a lawsuit in the Supreme Court of British Columbia against RBH, the Company and numerous other Canadian and international tobacco companies and various tobacco trade associations seeking unspecified damages in an amount to cover the costs that allegedly have been, or will be, incurred by the Government of British Columbia in providing health care benefits to British Columbia residents who have allegedly suffered smoking-related illnesses. - In March 2008, the Company and RBH were named as defendants, along with Imperial Tobacco Canada Limited, JTI-Macdonald Corp. and a number of international tobacco product manufacturers, in a lawsuit filed by the province of New Brunswick in the Court of Queen's Bench of New Brunswick. - In May 1997, a statement of claim was issued against RBH and Imperial Tobacco Limited (ITL) by a single plaintiff, Mirjana Spasic, in the Ontario Superior Court of Justice claiming damages in the amount of $1,000,000, reimbursement for moneys expended on the purchase of the defendants' cigarette products and aggravated, punitive and exemplary damages. - In September 2006, RBH received a complaint from ITL and one of its affiliates alleging that RBH's ROOFTOP product packaging infringed their rights in respect of the MARLBORO trade-mark registration in Canada. - In 2002, the Province of Newfoundland and Labrador enacted the Tobacco Health Care Costs Recovery Act. This legislation allows the provincial government to bring an action against tobacco product manufacturers for recovery of health care costs that allegedly have been or will be incurred by the Province in respect of alleged smoking-related illnesses. The Province also announced that it had retained a U.S. law firm to assist the Province in bringing a claim against tobacco product manufacturers for recovery of these health care costs. At this time, no action has been commenced under this legislation. - In December 2005, Nova Scotia passed the Tobacco Damages and Health- care Costs Recovery Act. The legislation, which is modeled on the British Columbia legislation, allows the provincial government to bring an action against tobacco product manufacturers for the recovery of health care costs that allegedly have been or will be incurred by the Province in respect of alleged tobacco related diseases. No action has been commenced under this legislation. - In June 2006, the Manitoba government passed the Tobacco Damages and Health Care Costs Recovery Act. The legislation is also similar to that of British Columbia. No action has been commenced under this legislation. - In April 2007, the Saskatchewan government passed The Tobacco Damages and Health Care Costs Recovery Act. The legislation is similar to that of British Columbia. No action has been commenced under this legislation. The Company and RBH believe that they have good defenses in the court proceedings with respect to the lawsuits which have been filed against them to date and deny the allegations therein. The Company and RBH intend to vigorously defend themselves in the court proceedings relating to these lawsuits. Canada Newswire Canada Fri, 16 May 2008 04:00:00 GMT http://www.cnw.ca/en/releases/archive/March2008/13/c3902.html http://tobacco.org/news/265386.html Rothmans Inc. confirmed today that Rothmans Inc. and its 60% owned subsidiary Rothmans, Benson & Hedges Inc. ("RBH") are named as defendants, along with Imperial Tobacco Canada Limited, JTI-Macdonald Corp. and a number of international tobacco product manufacturers, in a lawsuit filed by the Province of New Brunswick in the Court of Queen's Bench of New Brunswick. The lawsuit is based upon grounds which include alleged misrepresentations made by the defendants in respect of the hazards of tobacco products and seeks to recover unspecified damages for costs that are alleged by the Government of New Brunswick to have been incurred in providing health care benefits to New Brunswick residents who have allegedly suffered smoking-related illnesses. Canada Newswire Canada Thu, 13 Mar 2008 04:00:00 GMT http://canadianpress.google.com/article/ALeqM5ivddFzD0PFXl0uRU0XXgJtm_V9KQ http://tobacco.org/news/265361.html Cigarette maker Rothmans Inc. (TSX:ROC) grew its full-year earnings by 18 per cent to $117.6 million, but said that despite certain regulatory changes to the industry, it was still being hit by contraband and competitive challenges. The company said net sales at subsidiary Rothmans, Benson & Hedges Inc. rose eight per cent to $670.6 million on price increases, while Rothmans' net profit for the year was $1.72 per diluted share, compared with $99.8 million or $1.46 per share in the previous year, when RBH sales were $618.6 million. CEO John Barnett, who has long complained about the impact of contraband on the company, said Friday that the results were "a substantial achievement in a market where we continue to see industry volume erosion as a result of the contraband activity." "While we are encouraged by some of the recent government announcements involving certain regulatory changes and enforcement strategies, we believe that the will to execute these and other required initiatives is the key to mitigating the contraband issue," Barnett said during a conference call. Canadian Press Canada Fri, 16 May 2008 04:00:00 GMT http://www.reuters.com/article/marketsNews/idUSN1638251720080516 http://tobacco.org/news/265360.html 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. Reuters Canada Fri, 16 May 2008 04:00:00 GMT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNo8r0NMPIxs http://tobacco.org/news/263280.html A judge threw out a lawsuit by Rothmans Inc. and other tobacco companies that sought to blame the Canadian government for health-related costs incurred by British Columbia. The province sued the companies in 2001, seeking to recover billions of dollars spent by its government-funded health-care system to treat people with diseases such as emphysema and lung cancer. The companies sued Canada last year, claiming federal officials were responsible for the costs. ``The allegations cannot succeed because Canada is immune to liability,'' British Columbia Supreme Court Judge Catherine Wedge wrote in an April 11 ruling in Vancouver. Only Parliament can lift the immunity, she said. Bloomberg News jschneider5@bloomberg.net (Joe Schneider) Canada Mon, 14 Apr 2008 04:00:00 GMT http://www.bloomberg.com/apps/news?pid=20601082&sid=ajPPC2AQym_Y&refer=canada http://tobacco.org/news/263258.html A judge threw out a lawsuit by Rothmans Inc. and other tobacco companies that sought to blame the Canadian government for health-related costs incurred by British Columbia. The province sued the companies in 2001, seeking to recover billions of dollars spent by its government-funded health-care system to treat people with diseases such as emphysema and lung cancer. The companies sued Canada last year, claiming federal officials were responsible for the costs. ``The allegations cannot succeed because Canada is immune to liability,'' British Columbia Supreme Court Judge Catherine Wedge wrote in an April 11 ruling in Vancouver. Only Parliament can lift the immunity, she said. Tobacco companies have unsuccessfully fought a British Columbia law that lets the province collect damages if it shows the cigarette makers breached an obligation to customers by failing to inform them of the risks of smoking. Ontario and other provinces have passed laws to allow similar suits. Wedge also denied the companies' request for a finding that they committed no ``tobacco-related wrongs,'' saying that will be determined at trial. Bloomberg News jschneider5@bloomberg.net (Joe Schneider) Canada Mon, 14 Apr 2008 04:00:00 GMT http://www.cnw.ca/fr/releases/archive/March2008/13/c3902.html http://tobacco.org/news/261267.html Rothmans Inc. confirmed today that Rothmans Inc. and its 60% owned subsidiary Rothmans, Benson & Hedges Inc. ("RBH") are named as defendants, along with Imperial Tobacco Canada Limited, JTI-Macdonald Corp. and a number of international tobacco product manufacturers, in a lawsuit filed by the Province of New Brunswick in the Court of Queen's Bench of New Brunswick. The lawsuit is based upon grounds which include alleged misrepresentations made by the defendants in respect of the hazards of tobacco products and seeks to recover unspecified damages for costs that are alleged by the Government of New Brunswick to have been incurred in providing health care benefits to New Brunswick residents who have allegedly suffered smoking-related illnesses. Canada Newswire Canada Thu, 13 Mar 2008 04:00:00 GMT http://canadianpress.google.com/article/ALeqM5iR6mM4aknmfdD1ZGmBeKtdwSK2Dg http://tobacco.org/news/259326.html Cigarette maker Rothmans Inc. (TSX:ROC) saw its profit rise 22 per cent rise in the October-December quarter, as sales grew by 11 per cent despite pressures from the contraband market. Canada's only publicly traded cigarette maker said Wednesday that net sales at subsidiary Rothmans, Benson & Hedges, which is 60 per cent owned by Rothmans, were $170.8 million, up from $153.6 million in the year-earlier quarter. Canadian Press Canada Wed, 06 Feb 2008 05:00:00 GMT http://www.cnw.ca/en/releases/archive/February2008/06/c7448.html http://tobacco.org/news/259310.html Rothmans Inc. today announced strong results for the third quarter and first nine months of fiscal 2008, which ended December 31, 2007. Rothmans' earnings for the third quarter of fiscal 2008 were $C29.4 million, or $0.43 basic earnings per share, compared with $24.1 million or $0.35 basic earnings per share in the third quarter of fiscal 2007. For the first nine months of this fiscal year, Rothmans' earnings were $96.6 million or $1.42 basic earnings per share, compared with $81.7 million or $1.20 per share for the first nine months of the prior fiscal year. Sales at 60%-owned subsidiary Rothmans, Benson & Hedges Inc., net of excise duty and taxes, increased to $170.8 million in the most recent quarter compared with $153.6 million in the third quarter of fiscal 2007. Sales in the first nine months of this fiscal year were $527.9 million compared with $481.7 million for the same period a year earlier. Canada Newswire Canada Wed, 06 Feb 2008 05:00:00 GMT http://www.cnw.ca/en/releases/archive/January2008/29/c5028.html http://tobacco.org/news/258832.html Rothmans Inc. invites analysts and portfolio managers to participate in a conference call with management to discuss the results of the third quarter of fiscal 2008, which ended December 31, 2007. Shareholders and media are also invited to listen to the call by telephone or by webcast through the company's investor website, www.rothmansinc.ca. Canada Newswire Canada Tue, 29 Jan 2008 05:00:00 GMT http://www.canada.com/montrealgazette/news/story.html?id=e196a88e-6ea7-4326-95c1-ac8eb5790f54 http://tobacco.org/news/255172.html Despite tobacco industry claims that one-third of its market in Ontario and Quebec has been grabbed by smugglers, the cigarette companies' financial reports don't show much impact on their performance. Healthy results reported by all three major tobacco producers indicate the contraband problem has not been as damaging as the industry is making it out to be. . . . Most of the illegal tobacco producers are located on the U.S. side of the Akwesasne reserve. Jerry Montour, chief executive officer of Grand River Enterprises, a federally licensed tobacco producer on the Six Nations reserve near Brantford, Ont., said the simplest way to stop the smuggling is to lay charges against companies that supply tobacco, paper, filters and machines to illegal producers. "Why are (the suppliers) not held accountable?" he asked. "You know why they aren't? Because they are white." Montreal Gazette mailto:rteague@thegazette.canwest.com (WILLIAM MARSDEN, The Gazette) Canada Usa Fri, 09 Nov 2007 05:00:00 GMT http://canadianpress.google.com/article/ALeqM5iiJj0R37llcN7BAjQDV3ptaESmwQ http://tobacco.org/news/255019.html Cigarette maker Rothmans Inc. (TSX:ROC) is stoking up its dividend - already one of the richest among Canadian corporations - after reporting rising summer-quarter sales and profits despite a "challenging operating environment." Canada's only publicly traded tobacco company said Friday it is increasing its regular quarterly dividend to 35 cents per share from 30 cents. The annualized payout of $1.40 represents a yield of 6.3 per cent at Thursday's closing price of $22.09, up from 5.4 per cent. Canadian Press Canada Fri, 26 Oct 2007 04:00:00 GMT http://investing.reuters.co.uk/news/articleinvesting.aspx?type=marketsNewsUS&storyID=2007-10-26T193448Z_01_N26295924_RTRIDST_0_ROTHMANS-RESULTS-UPDATE-2.XML http://tobacco.org/news/254436.html Second-quarter profit at Rothmans Inc , Research) rose nearly 18 percent, on the back of higher prices and stronger sales, Canada's No. 2 cigarette maker said on Friday. Toronto-based Rothmans, which makes Rothmans, Craven A and Benson & Hedges brand cigarettes, also announced a 16 percent increase to its annual dividend to C$1.40 from C$1.20. Net earnings in the quarter ending Sept. 30 increased to C$33.3 million ($34.7 million), or 49 Canadian cents a share, from C$28.3 million, or 41 Canadian cents a share, in the year-earlier quarter. Reuters Canada Fri, 26 Oct 2007 04:00:00 GMT http://www.reportonbusiness.com/servlet/story/RTGAM.20071026.wrothmans1026/BNStory/robNews/ http://tobacco.org/news/254394.html Tobacco company Rothmans Inc. is hiking its quarterly dividend 16 per cent, to 35 cents a share, after second-quarter profit rose to $33.3-million from a year-ago $28.3-million. Toronto-based Rothmans said Friday its earnings for the quarter ended Sept. 30 amounted to 49 cents a share, compared with 42 cents per share a year ago. The company announced its regular dividend will rise to $1.40 on an annualized basis, from $120, while the quarterly payout rises to 35 cents from 30 cents. Canadian Press Canada Fri, 26 Oct 2007 04:00:00 GMT http://www.thestar.com/Business/article/239497 http://tobacco.org/news/250371.html Cigarette company Rothmans Inc. has reported a 15 per cent rise in spring-quarter profit to a record $33.8 million, stoked by price increases. Net income amounted to 50 cents per share in the company's first quarter ended June 30, compared with $29.3 million, or 43 cents per share, a year earlier, the Toronto-based company said yesterday. Sales at 60 per cent-owned operating company Rothmans Benson & Hedges Inc., net of excise duty and taxes, increased to $177.4 million from $162.9 million. Canadian Press Canada Wed, 25 Jul 2007 04:00:00 GMT