NEW YORK (AFP) - Food and tobacco giant Altria said that rising sales of cigarettes abroad lifted third-quarter earnings by 6.3 percent from a year ago to 2.6 billion dollars.
The maker of Marlboro cigarettes and owner of Kraft Foods said Tuesday that its profit amounted to 1.29 dollars a share, four cents better than expected on Wall Street.
Overall sales rose 8.5 percent to 22.7 billion dollars amid a 1.5 percent rise in domestic tobacco sales and 16 percent growth in international tobacco sales.
The company said its results got a lift from a lower US dollar and lower tax rates, as well as improved results from SABMiller, the British-based brewer in which Altria has a 36 percent stake.
The tobacco and food giant narrowed its 2004 earnings forecast to 4.55 to 4.60 dollars a share from 4.50 to 4.60 dollars.
"Our businesses continued to exhibit solid improvement in the third quarter," said Louis Camilleri, chairman and chief executive.
"Our domestic tobacco business achieved robust retail share gains, driven by Marlboro. Our international tobacco business delivered strong volume growth of 5.1 percent, driven by gains in most regions, and Marlboro's total international volume increased, with widespread share gains in many key markets."