News Summary: Reynolds American 3Q profit up

AP News
Posted: Oct 23, 2012 9:36 AM

UP IN SMOKE: Reynolds American Inc.'s third-quarter profit grew nearly 7 percent $420 million, as higher prices and smokeless tobacco gains helped offset a decline in the number of cigarettes it sold.

FILTERED SALES: The nation's second-biggest tobacco company and maker of Camel, Pall Mall and Natural American Spirit cigarettes said heavy promotional activity by competitors resulted in lower cigarette sales.

BUTTS OUT: Volume for its smokeless tobacco brands rose nearly 7 percent.