RJ Reynolds (RJR) Tobacco improved profitability in the second quarter as higher prices and productivity gains outweighed a slump in production, parent company Reynolds American announced.
RJR adjusted operating margin gained 2.3 percentage points to 33 per cent of sales in the three months ending 30 June. Cigarette market share fell 1.4 percentage points to 26.2 per cent.
Net sales of USD 1.8 billion produced an operating income of USD 594 million, the company said. (ci)