Japan Tobacco Inc. said Thursday its consolidated net profit for the April-September first half of fiscal 2001 rose 4.2 percent from a year earlier to 35.63 billion yen, thanks to strong growth in its food business, increased volume in international tobacco sales and favorable foreign exchange rates.
Group pretax profit rose 8.1 percent from a year earlier to 83.75 billion yen on sales of 2.278 trillion yen, up 0.3 percent.
By segment, overall group sales of tobacco increased 4 billion yen to 2.097 trillion yen, boosted by strong international sales of the company's global flagship brands: Camel, Winston Salem and Mild Seven.
Domestic tobacco sales, however, decreased by 3.4 billion cigarettes due to weak demand caused by the sluggish economy and the prolonged effect of two tobacco price hikes at the retail level.
Sales in JT's foods business also expanded, with steady growth in the beverage business and food subsidiaries. However, sales in its pharmaceutical, agribusiness, real estate and engineering-related operations shrank.
Group net profit per share stood at 17,816.79 yen in the six-month period, up from 17,100.18 yen a year earlier.
On an unconsolidated basis, JT recorded a 15.6 percent rise in net profit to 37.26 billion yen, while pretax profits grew 24.2 percent to 69.45 billion yen on revenue of 1.398 trillion yen, down 2 percent.
For the entire fiscal year, the company expects a group net profit of 52 billion yen and pretax profit of 129 billion yen on sales of 4.46 trillion yen.
For the parent company only, JT projects a 58 billion yen net profit and pretax profit of 101 billion yen on sales of 2.73 trillion yen.