News Summary: Reynolds American 4Q profit falls
Published: February 12, 2013
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THE RESULTS: Reynolds American's fourth-quarter profit fell 54 percent to $139 million on pension and trademark-related charges and other costs. But the nation's second-biggest tobacco company's earnings, excluding those items, rose about 6 percent as higher prices, productivity gains and stronger sales of smokeless tobacco offset cigarette volume declines and increased promotional spending.
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FEWER CIGARETTES: The number of cigarettes sold by its R.J. Reynolds Tobacco Co. subsidiary fell about 3 percent during the quarter compared with a year ago.
PALL MALL, GRIZZLY GAINS: It sold 5.5 percent more of its Pall Mall cigarettes. It also sold 8 percent more of its Grizzly smokeless tobacco.
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