Shipping volume of Lorillard’s Newport brand, the leading US menthol, rose nearly 4 per cent in the first quarter, and the company confirmed it expects approval of the merger with Reynolds American within 10 weeks.

“The previously announced combination with Reynolds American remains subject to regulatory approval and the additional customary closing conditions contained in the merger agreement. Although no assurance can be given if and when the transaction will be completed because it remains subject to regulatory approval and additional customary closing conditions, the transaction is expected to close in the first half of 2015”, Lorillard said.
Cigarette volume in the first three months rose 3.1 per cent to 9.23 million sticks, with Newport contributing 7.84 million, Lorillard said. Value brands Old Gold volume fell 5 per cent and Maverick by 1.1 per cent. Cigarette segment sales rose 6.4 per cent to USD 1.64 billion (EUR 1.52 billion) and operating income 7.5 per cent to USD 519 million.