Philip Morris profit beats Street; backs '09 view |
Reuters - Apr 23, 2009 |
Marlboro cigarette maker Philip Morris International Inc (PM.N) reported a higher-than-expected quarterly profit, helped by its Asian, Latin American and Canadian markets, and backed its 2009 earnings forecast, sending its shares up more than 1 percent.
The company, whose overseas sales value has been hurt by the stronger U.S. dollar, said cigarette shipment volume of 203.4 billion units was unchanged, with gains in Asia -- driven by Indonesia and Korea -- and Latin America and Canada.
The world's largest publicly traded tobacco company said it expects 2009 earnings of $2.85 a share to $3 a share. In February, Philip Morris said that the stronger dollar would cut earnings by 80 cents a share in 2009.
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- Posted: 2009-04-23 08:54:46
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