News Summary: Reynolds American 1Q profit jumps
Posted at: 04/23/2013 10:05 AM
By The Associated Press
UP, IN SMOKE: Reynolds American’s first-quarter profit jumped 88 percent to $508 million. Revenue excluding excise taxes fell nearly 3 percent to $1.88 billion.
BUTTING OUT: The number of cigarettes sold by its R.J. Reynolds Tobacco subsidiary fell about 9 percent as it sold 5.5 percent less of its Camel brand and Pall Mall volumes fell 2 percent.
PALL MALL PUSH: Pall Mall’s U.S. retail market share grew 0.5 percentage points to 9 percent. The company has promoted Pall Mall as a longer-lasting and more affordable cigarette.
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