Universal reports $107 million income for nine months

| February 8, 2013

Universal Corp. reported net income of $106.6 million for the nine months ending Dec. 31, up from $66.3 million for the same period of the previous fiscal year.

Revenues increased by 1 percent to $1.8 billion for the first nine months of fiscal year 2013, mostly as a result of higher volumes from carryover crop sales from the prior year and accelerated shipments of current crop tobaccos.

The comparison of the current and prior year periods is affected by several unusual items, including restructuring costs, gains on the sale of a facility in Brazil and a charge imposed by the European Union on the company’s Italian operation.

“I am very pleased with our results so far this year,” said George C. Freeman III, chairman, president, and chief executive officer of Universal. “The hard work and depth of local market knowledge from our teams on the ground around the world enabled us to deliver good results to our customers and shareholders.”

Category: Financial, Leaf

Comments are closed.

Sponsor Ad

Sponsor Ad

From the leaf lands

Lebanon suffers leaf losses

Lebanon suffers leaf losses

A survey is to be carried out to determine the extent of losses incurred by tobacco growers in southern Lebanon, where viruses are said to have caused extensive damage.

| May 24, 2018
Universal presents results

Universal presents results

Universal Corporation expects to make higher volume sales from the next tobacco-crop cycle, given that the global market remains stable.

| May 24, 2018
Contracting Burley

Contracting Burley

Tennessee’s Burley crop is expected to fall by 20 percent or more following Alliance One International’s decision not to buy US Burley.

| May 22, 2018
Leaf prices increased

Leaf prices increased

Flue-cured tobacco growers in Zimbabwe will be hoping that the “encouraging” prices being paid for their leaf will stand up for the rest of the season.

| May 22, 2018
Growers up in arms

Growers up in arms

Some tobacco growers in Pakistan are claiming that tobacco manufacturers are exploiting them, and they have vowed to fight back.

| May 22, 2018
Universal results webcast

Universal results webcast

Candace C. Formacek, vice president and treasurer at Universal Corporation, will host a results webcast on May 23.

| May 21, 2018

Sponsor Ad

Sponsor Ad

Web exclusives

Discussing challenges

Discussing challenges

Tobacco growers convene in Indonesia.

| April 2, 2018
The promise of heated tobacco

The promise of heated tobacco

Peter Nixon, PMI’s U.K. and Ireland MD, praises England’s progressive approach to new technologies.

| February 28, 2018
Celebrating cigars at Puro Sabor

Celebrating cigars at Puro Sabor

Five days of factory tours, farm visits, recreational activities and many, many cigars.

| February 5, 2018
Farmers concerned

Farmers concerned

The ITGA worries about slumping demand for leaf tobacco and a lack of alternative crops

| November 2, 2017
Their fair share

Their fair share

Tobacco growers deserve better

| November 1, 2017
Lease on life

Lease on life

Industry leaders respond to the FDA’s new attitude toward vapor products.

| October 1, 2017
The Vype Dossier

The Vype Dossier

Proving the reduced-risk potential of an e-cigarette

| October 1, 2017

Sponsor Ad

Sponsor Ad

Sponsor Ad