RJ Reynolds Tobacco volume declined 3.8 per cent in the first quarter, more than the 2.7 per cent drop for the cigarette industry as a whole, said parent company Reynolds American (RAI).

Camel volume rose as its US market share increased 0.4 percentage points to 10 per cent. Pall Mall market share rose by about the same to 9.5 per cent in the three months ended 31 March. Volumes at American Snuff and Santa Fe Natural Tobacco rose.
RJR volume at 14.3 billion units compares with 14.9 billion in the first quarter of 2013. Adjusted for inventory shifts, the first-quarter volume decline was 5.7 per cent compared with about 4.4 per cent for the industry, RAI said.
Sales from all RAI companies rose 2.8 per cent to USD 1.9 billion (EUR 1.4 billion). Operating profit declined by one third to USD 590 million, however the comparison is skewered by a tobacco settlement payout of more than USD 200 million in the first quarter of last year. Investment in RJ Vapor Co and its e-cigarette product and court settlement payouts also dampened earnings, the company said.