Rothmans eyes RI market<\/p>\n
SYDNEY (Reuter): Cigarette manufacturer Rothmans Ltd said
\nyesterday that the company would give special emphasis on the
\nIndonesian market in the 1997\/98 year.<\/p>\n
\"The Indonesian market, which ranks as the fifth largest
\ncigarette market in the world, will be a major focus in order to
\ncapitalize on the gains now being made there,\" chairman John Utz
\ntold shareholders at the company's annual shareholders meeting.<\/p>\n
He said that the group results for the three months to June 30
\nwere below last year.<\/p>\n
The company cited the tougher environment in Australia for the
\nsofter first quarter, saying the industry remained competitive.<\/p>\n
\"The highly competitive nature of our markets prevents any
\ncomplacency about the future,\" Utz said.<\/p>\n
Rothmans more than doubled its net profit for the year to
\nMarch 31 to A$94.73 million and declared a final dividend of 25
\ncents per share and a special dividend of A$1 per share.<\/p>\n
Responding to a shareholder question about the possible local
\nimpact of a recent settlement between American tobacco companies
\nand U.S. states, Utz said he did not believe the settlement was
\nof any relevance to the Australian market.<\/p>\n
\"I don't believe it is relevant. We have no operations in the
\nU.S.\" he told the meeting.<\/p>\n
The U.S. settlement sees U.S. tobacco companies obligated to
\npay US$368.5 billion over 25 years to compensate states and
\nsmokers and to fund programs to help people quit smoking.<\/p>\n
Rothmans is about 50 percent owned by Rothmans International
\nLtd which is in turn owned 60 percent by Swiss firm Richemont AG
\nand 40 percent owned by South African group Rembrandt Group Ltd.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rothmans-eyes-ri-market-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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