The Swiss-based conglomerate Richemont, controlled by the South African Rupert family has increased pre-tax profits by 15 per cent to US$1.52 billion during the financial year of 1996

A strong profit growth in its Rothmans tobacco business by more than 30 per cent to £ 795.9 million has offset the otherwise poor performance by Vendôme luxury goods and the group’s media operations. The 1996 merger of Rothmans International with the tobacco business of Rembrandt, the South African arm of the Rupert family. did a lot to boost the market performance of Richemont’s tobacco brands (Dunhill, Peter Stuyvesant, Craven “A”).