Japan Tobacco forecast both its domestic and international tobacco business will post higher sales and profit in the fiscal year ending March, 2014, helped by a weaker yen and increasing market share for its rebranded Mevius cigarette line.

International tobacco core revenue will rise 5.4 per cent in the new fiscal year, or 25.3 per cent in terms of a depreciated yen, the company said. Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) is forecast to rise 7.6 per cent, or 28.2 per cent.
Commenting on the fiscal year concluded 31 March, JT President and Chief Executive Officer Mitsuomi Koizumi said “our tobacco businesses drove JT Group’s strong growth amid a challenging business environment. Internationally, continued investment in our business allowed us to deliver a strong performance. In Japan, our market share has achieved a steady recovery through continuous investments to strengthen brand equity”.
Higher prices in its international business boosted constant-currency sales in the three months concluded 31 March, offsetting a 6.4 per cent drop in shipping volume to 92.6 billion units, JT said. Global brands accounted for 58.4 billion units of the total, represent a 4.5 per cent drop. JT’s global brands are Winston, Camel, Mevius/Mild Seven and LD. (ci)