Rothmans eyes RI market

Rothmans eyes RI market

SYDNEY (Reuter): Cigarette manufacturer Rothmans Ltd said
yesterday that the company would give special emphasis on the
Indonesian market in the 1997/98 year.

"The Indonesian market, which ranks as the fifth largest
cigarette market in the world, will be a major focus in order to
capitalize on the gains now being made there," chairman John Utz
told shareholders at the company's annual shareholders meeting.

He said that the group results for the three months to June 30
were below last year.

The company cited the tougher environment in Australia for the
softer first quarter, saying the industry remained competitive.

"The highly competitive nature of our markets prevents any
complacency about the future," Utz said.

Rothmans more than doubled its net profit for the year to
March 31 to A$94.73 million and declared a final dividend of 25
cents per share and a special dividend of A$1 per share.

Responding to a shareholder question about the possible local
impact of a recent settlement between American tobacco companies
and U.S. states, Utz said he did not believe the settlement was
of any relevance to the Australian market.

"I don't believe it is relevant. We have no operations in the
U.S." he told the meeting.

The U.S. settlement sees U.S. tobacco companies obligated to
pay US$368.5 billion over 25 years to compensate states and
smokers and to fund programs to help people quit smoking.

Rothmans is about 50 percent owned by Rothmans International
Ltd which is in turn owned 60 percent by Swiss firm Richemont AG
and 40 percent owned by South African group Rembrandt Group Ltd.