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News Summary: Marlboro maker Altria 4Q profit up
Thursday - 1/31/2013, 8:50am EST
(AP) - THE RESULTS: Marlboro maker Altria Group's fourth-quarter profit rose about 32 percent to $1.1 billion as it commanded higher prices for cigarette and smokeless tobacco and expanded its industry-leading share of the U.S. market. Revenue, excluding excise taxes, rose 3 percent to $4.46 billion.
CIGARETTES: Volumes increased less than 1 percent from a year earlier to 33.8 billion cigarettes. Discount cigarette brands like L&M saw volume rise 7 percent, Marlboro volumes were essentially flat and other premium brands fell about 6 percent.
OTHER TOBACCO: Volumes of its smokeless tobacco brands such as Copenhagen and Skoal rose nearly 10 percent. Volumes for its Black & Mild cigars down 1 percent.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)