Altria Group Inc. owns Philip Morris USA, the largest manufacturer of cigarettes in the U.S.. Net profit of U.S. holding company in the I quarter of 2011 increased by 15,4% – to 938 million dollars – compared to a profit in I quarter of 2010 in $ 813 million dollars. Russian Business Consulting reports that the information is contained in the published press release of the company.
According to the account quarter, Altria Group’s revenue decreased by 2% – to 5.64 billion dollars – compared with 5.76 billion dollars, received for the same period a year earlier. Operating profit of Altria Group Inc. in January-March of this year increased by 7,6% – to 1.54 billion dollars – compared with 1.43 billion dollars in the first three months of 2010.
Adjusted earnings per share of the tobacco holding company has grown on 4,8% – to 0.44 dollars, which coincided with the consensus forecast of analysts, polled by Reuters.
Altria Group Inc. was founded in 1860. Headquarters is situated in New York. Holding owns the largest U.S. tobacco company, Philip Morris USA, which sells cigarettes under the brands Marlboro, Chesterfield, Parliament and Virginia Slims.
Altria owns mot only a major tobacco company Philip Morris USA, but also Philip Morris Capital Corporation. Also, there is a large (36%) package of British brewing company “SABMiller” and wine production of “Ste. Michelle Wine Estates” in its the property.
In March 2008 the Philip Morris International company was derived from the holding. Thus, Altria group controls only a part of the U.S. Philip Morris (known as Philip Morris USA). Philip Morris International, in its turn, was included in a listing on the NYSE with the ticker symbol PM after the separation.
It was announced by the company that Marlboro composed 42.3 percent of cigarettes sold in the United States of America in the fourth quarter. Other brands of Altria Group – Parliament, Virginia Slims and Basic, experienced recession in market share and volumes.
Altria group Inc. is confronted with competition from less expensive brands of other companies such as Pall Mall from Reynolds American Inc. and Maverick from Lorillard Inc. In spite of this, Altria has increased prices on several brands and upheld its profit by means of pack.
Altria informed net profit of 42 cents per share, excluding one-time items. Altria Group Inc. income was $3.95 billion, excluding excise taxes.
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