Lorillard operating income rose 22 per cent in fourth quarter as the company increased its share of the US market with the rising popularity of its flagship Newport and discount Maverick brands.

Newport volume rose 4.3 per cent to 8.2 billion sticks and Maverick gained 15.8 per cent to 1.4 billion sticks, the company said in an announcement today. Operating income at USD 530 million (EUR 400 million) represented a rise of USD 97 million from the final three months of 2010.
"Lorillard had an outstanding fourth quarter which helped the company once again post record sales and profit for the full year of 2011. Fourth-quarter gains in market share, pricing realisation and margins resulting from the company’s strategic initiatives implemented during 2011 all contributed to the strong quarter and year," said Chief Executive Officer Murray Kessler. (ci)