TOKYO (dpa-AFX) - Cigarette manufacturing company Japan Tobacco (JAPAF.PK, JAPAY.PK) Thursday reported that its first-quarter profit attributable to owners of the parent company slid by 28.5 percent to 86.4 billion yen.
The decrease in profit was attributable to lower operating profit as well as increase in financing cost, led by foreign exchange losses.
Operating profit for the period slipped by 29.4 percent to 129.0 billion yen, in the absence of one-time compensation gains in the pharmaceutical business.
Revenue for the first quarter rose by 2.8 percent to 519.6 billion yen, due to higher revenue in the international tobacco business and processed food business.
Copyright RTT News/dpa-AFX