Rothmans delivers strong performance during the third quarter of fiscal 2008

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[{"type":"text","content":"\n\n\n\nTrading: TSX: ROC\n\n\nTORONTO, Feb. 6 /CNW/ - Rothmans Inc. today announced strong results for\nthe third quarter and first nine months of fiscal 2008, which ended\nDecember 31, 2007.\n\n\nRothmans' earnings for the third quarter of fiscal 2008 were\n$C29.4 million, or $0.43 basic earnings per share, compared with $24.1 million\nor $0.35 basic earnings per share in the third quarter of fiscal 2007. For the\nfirst nine months of this fiscal year, Rothmans' earnings were $96.6 million\nor $1.42 basic earnings per share, compared with $81.7 million or $1.20 per\nshare for the first nine months of the prior fiscal year.\n\n\nSales at 60%-owned subsidiary Rothmans, Benson & Hedges Inc., net of\nexcise duty and taxes, increased to $170.8 million in the most recent quarter\ncompared with $153.6 million in the third quarter of fiscal 2007. Sales in the\nfirst nine months of this fiscal year were $527.9 million compared with\n$481.7 million for the same period a year earlier.\n\n\nRBH's EBITDA margin for the third quarter was 49.8% compared with 53.3%\nin the prior quarter and 46.4% in the quarter ended December 31, 2006. The\nreduction in EBITDA margin from the prior quarter was mainly due to lower\nshipment volumes and higher general and administrative expenses. The increase\nin EBITDA margin over the prior year was predominantly due to the effect of\nprice increases across all product categories, partially offset by volume\nshifts into the lowest priced tier of the cigarette price category and higher\ngeneral and administrative expenses.\n\n\nRBH shipped a total of 2.7 billion equivalent sticks into the domestic\nmarket during the third quarter of fiscal 2008, unchanged from the same period\nin fiscal 2007. For the nine months ended December 31, 2007, domestic\nshipments were 8.4 billion equivalent sticks, compared with 8.3 billion\nequivalent sticks in the comparable period of the prior year. Higher price\ncategory cigarette volumes continued to offset declines in premium cigarette\nand fine cut volumes.\n\n\n"RBH continued to deliver strong performance in the third quarter\ncompared to the prior year with increases in volumes shipped and strong\nresults in all significant financial measures," said John Barnett, President\nand Chief Executive Officer of Rothmans Inc. and RBH. "This has been\naccomplished d...

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