Tag: profits

itm banner
Indonesia: Cigarette makers blame costs for lower profits

Indonesia: Cigarette makers blame costs for lower profits

| April 25, 2013

Cigarette manufacturers in Indonesia blamed higher production costs and currency fluctuations for the slow-down in their business throughout 2012. Revenues at PT Gudang Garam increased by 17.1 percent to reach IDR49.03 trillion ($5 billion). However, their spending also increased, jumping 25.6 percent to IDR39.84 trillion. The higher spending and losses from currency fluctuations ultimately saw […]

Read More

Reynolds American profits jump 88 pct in Q1, volume down

Reynolds American profits jump 88 pct in Q1, volume down

| April 24, 2013

Consumers squeezed by higher gas prices and an increase to the payroll tax led Reynolds American Inc. to report a sharp drop in cigarette volumes in the first quarter. “Overall, the external environment remained challenging,” President and CEO Daniel Delen said. “Industry cigarette volumes were negatively impacted by higher energy prices, the expiration of the payroll-tax […]

Read More

Higher 1Q profit, revenue expected from PMI

Higher 1Q profit, revenue expected from PMI

| April 17, 2013

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 […]

Read More