Kent’s Cigarette Shipments dropped by 1.9%

August 20th, 2013 00:00
Kent

Lorillard’s local market wholesale cigarette shipments have fallen by around 1.9 % on those of the 2Q of 2012, at 10,461 million.

Shipments of Newport declined by 1.3 % to 8,693 million, whilst shipments of Kent and True dropped by 13.3 % reaching 40 million and by about 12.0 % to 43 million, correspondingly. Altogether, regular price brand shipments have fallen by 1.4 % to 8,777 million.

Deliveries of value brands declined by 4.8 % to 1,484 million, with shipments of Old Gold decreasing by 8.9 % to 117 million and the ones of Maverick lower by 4.4 % to 1,367 million.
Lorillard’s share of the U.S. local market in the course of the 2Q, at 15%, was raised by 0.5 of a percentage point in comparison to that from the 2Q of 2012. Newport’s share increased by 0.6 of a percentage point to 12.6 %. At the same time, Lorillard’s local-market wholesale cigarette shipments within the first half of the year, at 19,306 million, declined by 2.2 % on those of the 1Q of 2012, at 19,748 million.

The company’s shipments of regular price cigarette brands declined by 1.6 % to 16,517 million, with Kent’s shipments falling by 12.9 % to 77 million and True’s shipments declining by 12.4 % to 82 million. Net sales for the 3 months completed June 30, at $1,804 million, were elevated by 4.2 % on the ones of the 3 months concluded June 30, 2012.

At the same time, net sales for the half of the year finished June 30, at $3,381 million, were raised by 3.8 % on the ones of the six months concluded June 30, 2012. “I am glad that, in a quite complicated outside surrounding, Lorillard presented a further top quality income quarter notable by steady cigarette volumes, solid market share benefits, restricted cost management and ongoing achievements of the company’s strategic projects, as blu eCigs,” stated Murray S. Kessler, CEO and president. “Subsequently, Lorillard has expanded adjusted earnings per share 12 % within the first half of the year.

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