News Summary: Reynolds American 4Q profit jumps

Published on NewsOK Modified: February 11, 2014 at 9:27 am •  Published: February 11, 2014
Advertisement
;

THE RESULTS: Reynolds American Inc.'s fourth-quarter profit more than doubled to $292 million as higher prices and lower legal expenses offset a decline in cigarette sales, and it benefited from the year-ago comparison. The maker of Camel, Pall Mall cigarettes and Natural American Spirit cigarettes said revenue excluding excise taxes fell about 2 percent to $2.04 billion.

CIGARETTE DECLINES: The number of cigarettes sold by its R.J. Reynolds Tobacco subsidiary fell about 9 percent during the quarter to 15.6 billion. Volumes for Pall Mall fell more than 6 percent and volumes for Camel fell 3.5 percent. Both brands gained market share.

SMOKELESS TOBACCO: Volume for its smokeless tobacco brands including Grizzly and Kodiak rose about 8 percent compared with a year ago. The brands had a 33.3 percent share of the U.S. retail market, which is tiny compared with cigarettes.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Former OU coach Sunny Golloway goes off at Auburn
  2. 2
    Chelsea Clinton Is Pregnant
  3. 3
    Tulsa World: Missouri’s Frank Haith positioned to become TU’s basketball coach
  4. 4
    Oklahoma football: Peyton Manning stops by Sooners film session
  5. 5
    VIDEO: A look at the Air Jordan XX9 in Thunder colors
+ show more