Lorillard shipping volume in the fourth quarter dipped 0.9 per cent, supported by its flagship Newport brand with a 40 per cent share of the US menthol cigarette market, the company said.

Full-year 2014 volume for full-price cigarettes fell 1.5 per cent to 33.2 billion sticks, of which 32.9 billion sticks were Newports. Volume including value brands was down 2.3 per cent at 39 billion sticks. Fourth quarter cigarette operating income rose 21.4 per cent to USD 612 million (EUR 541 million) on sales that gained 2.4 per cent to USD 1.7 billion. Operating profit for 2014 was 6.1 per cent higher at USD 2.2 billion.
The sale of Lorillard to Reynolds American is on track and expected to close in the first half of this year, the company said.