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Archive for April, 2013

2013 Pakistan Tobacco profits 202 percent higher than 2012

2013 Pakistan Tobacco profits 202 percent higher than 2012

April 22, 2013 | Comments (0)

The Pakistan Tobacco Company has announced its results for the quarter ended March 31, 2013, recording stellar earnings of Rs1.09 billion as compared to only Rs359 million earned in the same period of the preceding year (translating into 202 percent growth). The company has also announced an interim dividend of Rs2 per share alongside the results, […]

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Boston's JFK library fire caused by careless smoker, not terrorists

Boston’s JFK library fire caused by careless smoker, not terrorists

April 19, 2013 | Comments (0)

The fire at the JFK Presidential Library and Museum in Boston Monday was caused by the careless disposal of smoking materials, city fire officials said. Boston officials had initially feared that the fire at the library might have been connected to the bombings at the Boston Marathon, because it was ­reported just six minutes after the […]

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NC tobacco tax totals turn down

NC tobacco tax totals turn down

April 19, 2013 | Comments (0)

North Carolina, USA, is catching up with a lot of other American states in collecting less tax revenue on cigarettes and other forms of tobacco. In the first nine months of fiscal 2013, which began in July, state revenue collections were $190 million, down 6 percent from the $202 million that came in during a comparable […]

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Cigar makers hope to snuff out FDA efforts

Cigar makers hope to snuff out FDA efforts

April 19, 2013 | Comments (0)

Cigar makers are trying to snuff out an effort by the Food and Drug  Administration to regulate their products for the first time. The FDA said in its regulatory agenda for the year that it would propose rules in April to expand federal oversight of tobacco products under the Family Smoking Prevention and Tobacco Control Act. The […]

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Easy street: smoke smugglers net nearly $2 million a truckload

Easy street: smoke smugglers net nearly $2 million a truckload

April 19, 2013 | Comments (0)

Wanna make a quick $1,944,000? Buy a truckload of cigarettes in Virginia and sell them in New York. Yeah, it’s illegal. But that’s how much can be made from selling a tractor trailer’s worth (that’s 800 cases, each holding 600 packs of cigarettes) of low-tax Virginia cigarettes in high-tax New York, based on estimates from […]

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California lawmakers kill bill to ban smoking inside homes

California lawmakers kill bill to ban smoking inside homes

April 18, 2013 | Comments (0)

A bill to bar millions of Californians from smoking inside their own homes was rejected Wednesday by an Assembly committee. Assembly Bill 746 would have made California the first state to venture into personal bedrooms and living rooms with smoking restrictions. It targeted condominiums, duplexes and apartments, according to a story published in The Sacramento […]

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Retailers say PM still on top, e-cigs will continue to grow

Retailers say PM still on top, e-cigs will continue to grow

April 18, 2013 | Comments (0)

The first quarter of 2013 has come and gone, and with it, a UBS-CSP survey of a variety of convenience store operators–whose sizes ranged from one store location to more than five hundred—on a range of tobacco-related issues. The exclusive study brought good news for industry leader Philip Morris and even better news for the […]

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Philip Morris Q1 profit declines on costs, cuts full-year EPS view

Philip Morris Q1 profit declines on costs, cuts full-year EPS view

April 18, 2013 | Comments (0)

Tobacco giant Philip Morris International Inc. Thursday reported a decline in first-quarter profit, reflecting higher costs. Meanwhile, earnings per share improved from last year. The company also lowered its full-year 2013 earnings outlook for prevailing exchange rates only, according to a story on RTTNews.com. However, the firm reiterated its annual constant-currency adjusted diluted earnings per […]

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Mac Baren to acquire Altadis USA pipe tobacco division

Mac Baren to acquire Altadis USA pipe tobacco division

April 18, 2013 | Comments (0)

Mac Baren Tobacco Co., a 125-year-old pipe tobacco company based in Denmark, has reached an agreement with Altadis USA to purchase the company’s pipe tobacco division located in Richmond, Va, according to a story on CSPnet.com. The acquired pipe business will operate under its original name, Sutliff Tobacco Co., which was founded in San Francisco […]

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Higher 1Q profit, revenue expected from PMI

Higher 1Q profit, revenue expected from PMI

April 17, 2013 | Comments (0)

Philip Morris International Inc., which sells Marlboro and other brands abroad, is expected to report higher profit and revenue when it releases its first-quarter results before the market opens on Thursday. Whether cutting costs and raising prices continued to help PMI compensate for consumers buying fewer, or cheaper, cigarettes has investors anticipating the announcement. Cigarette […]

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